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A leading multinational group in the energy sector

A REFERENCE IN RENEWABLE ENERGY AND ONE OF THE TOP ELECTRIC UTILITIES IN THE WORLD

IBERDROLA has undergone a wide-ranging transformation over the last ten years which has enabled it to advance through the ranks to become the number one Spanish energy group, one of the Spanish main companies on the Ibex 35 by market capitalisation, the world leader in renewable energies, and one of the world's top power companies.

Our work has led us to an international reference position, becoming one of the leading operators in the UK, one of the largest electricity utilities in the United States, the main private generator of Mexico and as the electricity supplier with the most customers in Brazil.

This positive evolution has been made possible thanks to a strategic vision that has enabled IBERDROLA to anticipate the needs of the energy sector throughout three stages:

  • 2001-2006: planning focused on energy business growth principally in Spain and Latin America, with the company succeeding in doubling its size and profits by the end of the period. Installed capacity rose to 30,500 MW from 16,500 while net earnings came to €1.66 billion in 2006.
  • 2007-2013: strategy has been marked by strong international expansion, with the integration of ScottishPower, Energy East (called Iberdrola USA until 16 December 2015, following the friendly merger [PDF] with UIL Holdings Corporation, giving rise to the new company known henceforth as AVANGRID) and Brazil’s ElektroExternalNote (*), as well as managing a significant growth of renewable energy activities.
  • 2014-2016:  IBERDROLA continues to make concerted efforts in optimising the entire Group's operational and financial management in order to continue advancing in fulfilment of the objectives established in the 2014-2016 Outlook. The company will continue to develop its sustainable, long-term business model, through its investment programme totalling €11.2 billion for the 2014-2016 period, primarily earmarked for the areas of electricity transmission and distribution networks and renewable energies within its flagship markets. See 2015 guidance.

AVANGRID, one of the largest electricity utilities in the United States

Notable features of this third stage include Iberdrola USA's obtaining all necessary approvals to seal its friendly merger [PDF] with UIL Holdings Corporation. Completion of the merger on 16 December 2015 gave rise to the new company AVANGRID. The company, which boasts assets worth in excess of 30 billion dollars, was listed on the New York Stock Exchange on 17 December. The new company is one of the largest electricity utilities in the U.S. consolidating its position as the second largest wind energy operator. By its nature as a listed country subholding company listed it has full independence and strengthened autonomy.

  • © 2016 Iberdrola, S.A. All rights reserved.