Iberdrola expands UK power grid with $30 B investment plan
Through ScottishPower, Iberdrola secures CMA approval to acquire 88 % of ENW, strengthening UK networks with a $30 B investment through 2030.
Image for illustration purposes
UK: The UK Competition and Markets Authority (CMA) has approved Iberdrola, S.A.’s acquisition of an 88 % stake in electricity distribution operator Electricity North West (ENW) through its subsidiary, ScottishPower.
This move aligns with Iberdrola’s strategy to grow its network operations in countries with strong credit ratings, such as the UK. With this acquisition, Iberdrola, via ScottishPower, becomes the UK’s second-largest electricity distribution network operator, supplying power to approximately 12 million people over a grid extending more than 170,000 kilometers.
Welcoming the decision, Iberdrola’s Executive Chairman and ScottishPower’s Chairman, Ignacio Galán, stated: “Electrification is driving the UK’s economic growth and competitiveness while enhancing its energy security and strategic independence. Iberdrola remains committed to supporting the Government’s vision to upgrade the nation’s energy infrastructure, with network investment playing a key role in this transformation.
“As we integrate our new ENW colleagues, we reinforce our shared goal of building a more robust and adaptable power network to meet Britain’s future energy demands.
“Iberdrola has been a dedicated investor in the UK for nearly two decades. In addition to our existing assets valued at over £30 B, we plan to invest another £30 B by 2030—two-thirds in transmission and distribution networks and one-third in renewable energy, particularly offshore wind. These investments will generate substantial employment, strengthen the supply chain, and drive economic growth in the country.”
Source: Scottish Power
#Competition and Markets Authority#electricity distribution#electricity network#Electricity North West#energy infrastructure#Iberdrola#Ignacio Galán#ScottishPower#UK#UK energy market
