Iberdrola has announced a landmark $15 billion investment in the UK’s electricity grid, marking the largest grid‑infrastructure commitment in the company’s global portfolio and a major boost to the country’s electrification and energy‑security ambitions ESG News.
The investment — approved by UK energy regulator Ofgem — will be delivered through Iberdrola’s UK subsidiary ScottishPower, which has been cleared to invest €14 billion in new transmission infrastructure through 2031. The programme triples spending from the previous regulatory cycle and forms a core pillar of the UK’s Clean Power 2030 strategy ESG Investing.
A Major Economic and Energy‑Security Boost
The grid‑expansion plan is expected to add €2.3 billion to the UK economy annually and support 12,000 jobs, according to Iberdrola’s projections. The upgrades will reinforce the UK’s high‑voltage network, accelerate the integration of renewable energy and strengthen resilience as electricity demand rises due to electric vehicles, heat pumps and industrial decarbonisation ESG News.
The approval follows nearly two years of consultation under Ofgem’s RIIO‑T3 regulatory framework, which sets investment and remuneration rules for transmission operators through 2031 ESG Investing.
Largest Grid Investment in Iberdrola’s History
The commitment represents the most significant grid‑focused investment Iberdrola has ever made, underscoring the company’s strategy to prioritise regulated networks as the backbone of the energy transition. ScottishPower’s network expansion includes major new transmission lines, substations and subsea links designed to connect offshore wind and other renewable projects to the national grid.
The investment aligns with Iberdrola’s broader UK growth plans, which include doubling its overall UK energy investment to £24 billion between 2024 and 2028, with two‑thirds directed toward transmission and distribution networks Industrial News.
Driving the UK’s Clean‑Energy Future
The grid upgrades are expected to play a critical role in enabling the UK to meet its 2030 clean‑power targets, support large‑scale offshore wind deployment and reduce reliance on fossil‑fuel generation. Iberdrola’s strengthened position in the UK grid sector follows its acquisition of an 88% stake in Electricity North West, making it one of the country’s largest distribution network operators Sustainability Magazine.
With Ofgem’s approval now secured, ScottishPower will begin rolling out projects across the UK, marking a decisive step toward modernising the nation’s electricity infrastructure and accelerating the shift to a fully electrified economy.
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