Iberdrola sells Mexico business to continue networks investment

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The deal includes 15 power plants with 2.6GW of energy capacity. Credit: Iberdrola.

Spanish energy utility giant Iberdrola has sold its Mexican power business for US$4.2 billion, as part of its shift to focus on US and UK electricity transmission networks.

The deal includes 15 power plants with 2.6GW of energy capacity, 1.232GW of which are solar and wind assets. The remaining 1.4GW comprises combined cycle and cogeneration plants. The deal values the portfolio at around US$1.6 million per megawatt.

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Iberdrola says the sale of its Mexican business supports its plans to invest €55 billion (US$63 billion) in electricity transmission and distribution networks over the next six years, primarily in the US and UK. It follows a €5 billion capital raise last month intended for the same investments.

The strategy has seen Iberdrola post vast profits in the last year. The company recorded €3.5 billion in profits in the first half of 2025, and over 60% of its €5.6 billion worth of investments over the period were in the UK and US.

Via its UK subsidiary, ScottishPower, Iberdrola acquired the Electricity North West distribution firm last year for €5 billion and has continued investing in its US subsidiary, Avangrid Networks. It also expects to invest in networks in Brazil and Spain via its regional subsidiaries.

The company has said its investment strategy will focus on “countries with stable, predictable and incentivising frameworks and with an A-rating”. Simultaneously, it is increasingly focusing on energy generation capacity in regulated markets, with “selective” investment in new renewables capacity.

In 2024, Iberdrola’s operational solar PV capacity increased by 31% to 7.8GW.

2 September 2025
Mexico City, Mexico
Intersolar Mexico is the leading platform for technology trends and B2B networking in Mexico's solar market. It focuses on photovoltaics, solar heating and cooling technologies, and energy storage. Together with the co-located events The GREEN Expo® and Aquatech Mexico, it has solidified its position as the largest gathering of professionals in the renewable energy and cleantech industry in Mexico since the debut in 2019. In 2024, the events hosted more than 400 exhibitors as well as 10,000 visitors and 12,000 industry professionals (total attendance). The sixth edition of Intersolar Mexico will take place from September 2 to 4, 2025 at the Citibanamex Center, in Mexico City.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

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