Iberdrola to invest up to €4bn to boost French renewable industry

The Spanish utility has announced plans to expand its renewable footprint in France in the next four years

Spanish electric utility Iberdrola plans to invest up to €4 billion (£3.5bn) to advance the French renewable sector.

In a bid to expand its renewable footprint in France, Iberdrola recently declared its interest to participate in new offshore wind capacity auctions in the next four years.

Ignacio Galán, Chairman and CEO at Iberdrola, said: “France is a strategic country for Iberdrola.

“We are already investing €2.4 billion (£2.1bn) in the development of the Saint-Brieuc offshore wind farm and we have onshore wind projects already in operation and under development.”

In a recently organised virtual summit by the French Government, Mr Galán commended the French Multiannual Energy Programme that is expected to reduce emissions and pollution, create jobs and achieve more competitive energy prices.

Iberdrola further called for transparent regulation to speed up the decarbonisation process.

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