Iberdrola to Invest €15 Billion in Spanish Renewables by 2026
Introduction
Spanish energy company Iberdrola announced on Friday that it will invest €15 billion by 2026 in renewable energy projects in Spain. The plan will primarily focus on wind and solar energy, and is expected to create thousands of jobs while aiding Spain’s energy transition. Iberdrola emphasized that this move will solidify its leadership position in the Spanish renewable energy market.
Investment Details and Project Focus
Iberdrola’s €15 billion investment will be primarily allocated to the development and construction of wind and solar photovoltaic projects. The company plans to increase its wind power capacity in Spain from the current 22 GW to 27 GW, adding 5 GW of new capacity. Meanwhile, solar power capacity will exceed 10 GW. These projects will include both offshore and onshore wind farms, as well as large-scale solar power plants.
According to CEO Mario Ruiz-Tagle, “This investment demonstrates our commitment to Spain’s energy future, driving the green transition and creating sustainable employment.” The investment will cover the entire chain of project development, construction, and operation, with projects expected to be implemented in various regions across Spain.
Employment and Economic Impact
The investment plan is projected to directly and indirectly create thousands of jobs, particularly in the engineering, construction, and maintenance sectors. Iberdrola noted that this will stimulate local economies and support the Spanish government’s energy transition goals.
The company currently operates approximately 20 GW of renewable energy capacity in Spain, making it the market leader. This investment will further extend its leading advantage. Spain’s energy transition roadmap calls for renewable energy to account for 81% of the mix by 2030, a target that Iberdrola’s investment aligns with perfectly.
Strategic Context and Market Position
Iberdrola is actively promoting the renewable energy transition globally and has a strong project pipeline in Spain. The announced investment is part of its global green investment strategy.
According to Reuters and EFE, the company has already secured several offshore wind permits in Spain, totaling over 3 GW, which will be a key focus of the investment. Iberdrola stressed that all projects will comply with the requirements of the EU Green Deal to ensure sustainability.
The plan has received support from the Spanish government and is aligned with national energy policy. The company will continue to collaborate with local authorities and supply chain partners to implement the projects.
