Spanish utility giant Iberdrola plans to double its UK investments to $31.3 billion 24 billion British pounds by 2028, Europe’s biggest electricity company said in a statement. Iberdrola, one of the biggest utilities and renewable energy developers in Europe and the Americas, previously planned to invest $15.7 billion 12 billion pounds in the UK between 2024 and 2028.
“This is a vote of confidence in the UK’s clear and stable policies and is a major boost to the economy and the path towards green energy security and Net Zero. The benefits of electrification in terms of energy security, industrial development, jobs, and decarbonization are shared ambitions of the UK and Iberdrola,” executive chairman Ignacio Galán said in a statement.
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