Iberdrola’s Subsidiary In The UK Expects To Win Contracts Worth €3.5 Bn

Iberdrola adjusts the sale of Scottish power to Drax to share risks and adapt to European justiceIberdrola's UK scottish power

Iberdrola’s subsidiary in the UK, Scottish Power, expects to win contracts worth a record 3 billion pounds (3.530 billion euros) in 2016, thanks to an increased interest in investing in renewables, smart meters and electricity networks.

Scottish Power CEO, Keith Anderson, was the one to announce this milestone in terms of volume of contracts, which has also been boosted by the sub-stations planned for Scotland and North Wales.

The CEO told a meeting of suppliers that so far this year the firm has closed contracts worth over 2.2 billion pounds (almost 2.6 billion euros), making 2016 a record year.

One of Scottish Power’s biggest projects at the moment is the construction of eight wind farms in Scotland, as well as the East Anglia One marine wind farm, with 714 megawatts (MW) of power, on the Suffolk coast.

Furthermore, over 540 million pounds (636 million euros) has been earmarked so far this year for strengthening electricity networks and substations with which the company provides service for over 2.5 million customers.

Scottish Power is also working on a plan to roll out smart meters, which entails the daily installation of nearly 1,000 new appliances across the UK.