Iberdrola

In Europe 11th October 2024

Iberdrola to double investments – up to £24 billion – in United Kingdom, its primary investment destination

Iberdrola plans to announce investments of £24 billion (over €28 billion) between the current fiscal year and 2028 in the UK, double what it was considering a few months ago. This will be communicated by the president of IBE, Ignacio Sánchez Galán, to the British Prime Minister Keir Starmer in the coming hours. The acquisition of the Electricity North West group for €5 billion has prompted this upward adjustment in…

In the World 5th October 2024

Iberdrola selected by US Department of Energy for $425 million renewable project contract

Link Securities | Avangrid, a US subsidiary of Iberdrola (IBE), has been selected by the US Department of Energy (DOE) for a $425mcapacity contract for its Aroostook renewable project, according to Bolsamania. The DOE announcement comes as the Maine Public Utilities Commission (MPUC) prepares to issue a request for proposals for transmission lines to connect 1,200 MW of renewable energy to the New England power grid in Maine. The generation…

Relevant News Item 30th September 2024

Iberdrola, among main beneficiaries of increasingly attractive risk/reward opportunity in regulated electricity grids

Morgan Stanley’s Rob Pulleyn reviews global energy demand figures and his growth estimates. Demand has tripled since 1980 and Rob believes that by 2030 we will continue to see strong growth, 26% faster (especially ex China). Rob believes that this boost to demand will mean an increase in energy prices of 20-25% vs 2019 and therefore an improvement in returns for power generation companies that would drive them to record…

Spanish economy 24th September 2024

Iberdrola places €2.15 billion in bonds for the purchase of the British ENW

Iberdrola, with €45.153 billion in debt at the end of the first half, has just completed the largest senior bond issuance in its history, raising €2.15 billion in the markets. This is the eighth financial operation—between loans and bond issuances—that the company led by Ignacio Galán has carried out this year, totaling €5.925 billion.The senior bond issuance closed this Monday will, according to the company itself, finance its expansion in…

Companies, European economy, Ibex 20th September 2024

Iberdrola inaugurates Saint-Brieuc wind farm, one of first two in France

Link Securities | Iberdrola (IBE) has inaugurated on Thursday in Brittany the Saint-Brieuc wind farm in France, one of the first two in the country, with 496 MW of capacity and an annual production of 2 million megawatt hours (MWh), as reported on Thursday by Bolsamania.com. This will provide safe, indigenous and emission-free energy to nearly one million people. With an investment of €2.4 billion, the project began to be…

Relevant News Item 18th September 2024

Iberdrola enters data centre business with launch of subsidiary to mobilise €10bn, develop 5 GW and become European hub

Bankinter | Iberdrola is finalising an agreement with a large investment fund or group of funds to launch a subsidiary specialising in the data centre business. It intends to turn this subsidiary, which it has initially christened CPD4Green, into the largest European hub to house data centres and processing for Artificial Intelligence (AI). Its intention is to close the operation of incorporating a partner before mid-2025. Iberdrola’s objective, unlike other…

Relevant News Item 16th September 2024

Qatar’s sovereign wealth fund sounds out government to increase current 8.7% stake in Iberdrola, equivalent to €7.4 billion

Bankinter | According to press sources, Qatar’s state investment fund (Qatar Investment Authority) wants to increase its stake in Iberdrola. Qatar’s representatives have reportedly been sounding out the Spanish government to gauge its predisposition to such a corporate move. Qatar entered Iberdrola in March 2011 with just over 6% in a €2 billion transaction and through a capital increase. It later increased its stake to the current 8.7%. The value…

World economy 5th September 2024

Qatar’s sovereign wealth fund wants to increase stake in Iberdrola to more than 10% from current 8.69%

Banco Sabadell: According to press reports, the Qatar Investment Authority wants to raise its stake in Iberdrola from the current 8.69% and will seek to allow it to pass 10%. Assessment: Positive news with limited impact pending confirmation. Qatar would continue to hold the largest stake in the company, followed by Blackrock (5.395%) and Norges (3.116%). An increase in Qatar’s shareholding would have no consequences for the management of the…

World economy 2nd September 2024

US Federal Energy Regulatory Commission authorises Iberdrola to purchase the 18.4% of capital it does not already own in its subsidiary Avangrid

Santander Research |According to the Spanish press, the US Federal Energy Regulator (FERC) has given its approval for Iberdrola (Baa1 e, BBB+ e, BBB+ e) to buy the minority stakes in its US subsidiary Avangrid. On 17 May, Iberdrola had announced its intention to acquire 18.4% of Iberdrola shares held by minority shareholders to take full control of the group for a cost of approximately $2.55 billion. The US Securities…

Companies, Ibex 23rd August 2024

Iberdrola receives SEC approval for purchase of Avangrid

Link | Iberdrola has received approval without objection from the Securities and Exchange Commission (SEC) for the purchase of Avangrid. The company expects the transaction to close by the end of 2024. The SEC has raised no objections to the merger prospectus for the acquisition of the 18.4% stake in Avangrid that IBE does not yet own. However, despite the SEC’s approval, the transaction is subject to obtaining all necessary…

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