Iberdrola has unveiled plans to invest €41 billion (£35bn) and create 10,000 jobs by 2026, as part of its strategy to accelerate electrification.
The company’s investment will primarily focus on enhancing grid infrastructure, expanding renewables capacity and integrating storage technologies to ensure a balanced energy supply.
Ignacio Galan, Iberdrola’s Executive Chairman, said: “The electrification of energy is unstoppable and will expand exponentially in the years ahead, supporting decarbonisation, boosting energy security, and reducing the volatility caused by fossil fuels.
“Customers are already driving this change. People are not returning to fossil fuels after they move to electric. Those who flip from petrol to electric vehicles do not move back, likewise for customers replacing gas boilers with heat pumps.”
Make sure you check out the latest Net Hero Podcast episode:
Net zero is a way to cut your costs and help the planet, so what’s stopping you? Often, it’s just the right help and advice. That’s what we will provide at the Big Zero Show this July. Workshops, expert speakers, case studies and exhibitions. Plus, networking with 1500 peers and potential customers. Register for free now.
