How Iberdrola is Driving the UK’s Green Power Revolution

Iberdrola is a giant of the modern energy landscape.

The second-largest utility by market cap, the Spanish electric multinational’s 40,000 employees bring power to its more than 36 million customers.

But it’s not just in Spain that Iberdrola has significant influence.

The company’s acquisition of an 88% shareholding in Electricity North West (ENW) via its subsidiary ScottishPower is a significant step in driving sustainability within the UK’s energy sector.

Iberdrola's impact on the UK energy landscape

The process of ENW being acquired by Iberdrola via ScottishPower began in 2024 when Iberdrola signed an agreement for an equity value of £2.1bn (€2.5bn, US$2.7bn).

Now approved by the UK Competition and Markets Authority (CMA), the acquisition aligns with both Iberdrola’s long-term sustainability goals and the UK’s ambitious climate targets, marking a pivotal moment in the nation’s energy transition.

“Electrification is powering the UK’s growth and competitiveness, as well as improving its strategic autonomy and contributing to national security,” Iberdrola’s Executive Chairman and ScottishPower’s Chairman, Ignacio Galán, says.

“Iberdrola continues to increase its investments here in support of the government’s plans to modernise the country’s energy system. Network investments are the backbone to this process.

“As we welcome our ENW colleagues into our business, we further strengthen our joint ambitions to deliver a resilient, flexible electricity network to meet the future needs and demands of Britain.”

Iberdrola has had a significant presence in the UK since 2007 and has been what Ignacio calls a “steadfast investor” in the UK in the years since.

The company is committed to creating a smarter, more sustainable energy system. 

As one of the world’s leading utilities, Iberdrola is focused on building infrastructure that supports the transition from fossil fuels to clean, renewable energy. 

In the UK, this means supporting the rapid deployment of offshore wind, solar and other renewable resources — while also ensuring that the distribution networks can handle the increasing demand for clean electricity.

He continues: “On top of our current assets, worth more than £30bn (US$38.8bn), our plans in the country aim at investing £30bn by the end of the decade, two thirds in transmission and distribution networks and one third in renewables, mainly offshore wind. 

“These investments will deliver significant jobs, supply chain and economic benefits to the country.”

Iberdrola’s sustainability impact

Through ScottishPower and thanks to its acquisition of ENW, Iberdrola is the second largest distribution network operator in the UK.

It is responsible for delivering electricity to around 12 million people across a network spanning more than 170,000km.

Outside of this, it has a significant renewables footprint in the UK.

Subsidiary ScottishPower was the first integrated energy company in the UK to produce 100% green electricity, boasting more than 3,000MW of installed capacity. 

Iberdrola’s largest wind farm is off the coast of the UK and is one of the largest of its kind in the world — East Anglia ONE.

The £2.5bn (US$3.2bn) project is a joint venture between ScottishPower Renewables and Macquarie’s Green Investment Group (GIG), and is the first of four offshore windfarms.

Its 102 wind turbines cover 300km², 43km off the Suffolk coast, and produce 714MW of clean energy — enough power to support 700,000 homes annually. 

As well as this, notable Iberdrola renewable energy projects in the UK include:

• East Anglia Hub: Iberdrola’s largest offshore wind project worldwide
• Whitelee Wind Farm: The UK’s largest onshore windfarm, located just outside Glasgow
• Western Link: A 850km long high-voltage cable — 770km of which runs under the sea — that links the west coast of Scotland with the north coast of Wales and enables the transmission of renewable energy from Scotland to homes and businesses located in Wales and England
• East Anglia THREE: Part of the East Anglia Hub, East Anglia THREE is expected to be operational in 2026 and could power the equivalent of up to 1.3 million homes with its 1,400MW capacity.

Ignacio adds: “The ambition of the East Anglia THREE project is a further demonstration of Iberdrola’s commitment to decarbonisation and energy security around the world, through large-scale renewable infrastructures capable of generating economic activity and creating thousands of jobs.”

About ENW

British electricity distribution network operator Electricity North West is responsible for the administration and maintenance of the network that distributes electricity to a large portion of the North West of England, providing power to nearly five million people. 

With approximately 60,000km of distribution networks, ENW ensures the safe and reliable delivery of electricity and plays a critical role in maintaining and upgrading the electricity infrastructure, supporting the transition to a low-carbon, sustainable energy future. 

As part of Iberdrola’s acquisition through ScottishPower, ENW is further strengthened to meet future energy demands, enhance grid resilience and contribute to the UK’s broader efforts to achieve net-zero emissions.

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