Iberdrola is sounding out possible acquisition opportunities in the European energy sector and Innogy is on its radar. According to financial sources, the Spanish firm could be interested in launching a bid for the German utility company.
European energy market
“We are still generating 20% of our electricity with coal and this increased in 2016 compared with the previous year…It’s cheaper than gas. And that’s the point: no matter how much we try to establish targets, companies operate on a day-to-day basis, look for economic efficiency and use the cheapest form of energy available,” says Carmen Gómez de Barreda, board member at Red Eléctrica.