Iberdrola buys 88% of Electricity North West for 2.5 billion euros

Iberdrola acquires 88% of UK company Electricity North West Limited for 2.5 billion euros, consolidating its presence in the UK.
Iberdrola acquiert ENW

Partagez:

Iberdrola, world leader in renewable energies, announces the acquisition of 88% of Electricity North West Limited (ENW) for 2.5 billion euros.
This operation strengthens Iberdrola’s presence in the UK, a strategic market for the Spanish company.

Strategic Acquisition

The transaction includes the purchase of shares representing around 85.6% of ENW’s capital, as well as a capital increase giving Iberdrola an additional 2.4% stake.
The total value of the company, including debt, is estimated at 5 billion euros.
The remaining 12% of ENW is held by a consortium of Japanese investors, with whom Iberdrola has signed a shareholding agreement.
ENW distributes electricity to almost five million customers in the north-west of England via a 60,000 km network.

Expansion and Investments

Iberdrola is pursuing its strategy of investing in countries with strong credit ratings, such as the AA-rated United Kingdom.
Since the acquisition of Scottish Power, the UK has become a key destination for Iberdrola’s investments, totaling almost 36 billion euros.
This acquisition makes the UK the leading country in terms of network assets for Iberdrola, with around 14 billion euros, followed by the United States with 13.3 billion euros.

Financial Performance and Outlook

In the first half of 2024, Iberdrola recorded a 64% year-on-year increase in net income, reaching 4.13 billion euros compared with 2.52 billion in the first half of 2023.
This growth is attributed to significant asset disposals and an increase in electricity generation, particularly hydroelectric.
In March, Iberdrola announces a €41 billion investment plan for the period 2024-2026, targeting mainly the United States (35%), the United Kingdom (24%) and the Iberian Peninsula (15%).
Iberdrola thus confirms its strategy of strengthening its position in key energy markets, capitalizing on growth opportunities in the renewable energies sector.
This acquisition illustrates the company’s commitment to investing in strategic assets, underpinning its long-term growth and consolidating its leading position in the sector.

Pedro Azagra leaves his role as CEO of Avangrid to become CEO of Iberdrola, while Jose Antonio Miranda and Kimberly Harriman succeed him as CEO and Deputy CEO respectively of the American subsidiary.
The US investment fund Ares Management enters Plenitude's capital by acquiring a 20% stake from Eni, valuing the Italian company at 10 billion euros and reinforcing its integrated energy strategy.
ENGIE secures a contract to reduce Airbus' industrial emissions in France, Germany, and Spain, targeting an 85% decrease by 2030 through various local energy infrastructures.
Alain Rhéaume, Chairman of Boralex’s Board of Directors for eight years, will leave his position by December, following the appointment of his successor by the governance committee of the Canadian energy group.
Norwegian group Statkraft plans an annual cost reduction of NOK2.9bn ($292 million) by 2027, citing possible job cuts amid rising financial burdens and volatility in the European energy market.
EDF merges EDF Renouvelables and its International Division into EDF power solutions, led by Béatrice Buffon, to optimise its global 31 GW low-carbon energy portfolio and strengthen its international positioning.
TotalEnergies announces a strategic partnership with Mistral AI to establish a dedicated innovation laboratory integrating artificial intelligence tools aimed at enhancing industrial efficiency, research, and customer relations.
The Energy Transitions Commission warns of economic risks tied to growing protectionism around clean technologies, while calling for global consensus on carbon pricing.
Baker Hughes has reached an agreement to sell its precision sensor product line to Crane Company for $1.15bn, thereby refocusing its operations on core competencies in industrial and energy technologies.
American conglomerate American Electric Power sold 19.9% of two transmission subsidiaries to KKR and PSP Investments, raising $2.82bn to support its five-year $54bn investment plan.
The new mapping by Startup Nation Central identifies 165 active companies in Israel’s energy technologies, amid strong private funding and growing global market interest.
The new CEO of EDF, Bernard Fontana, aims to achieve €1 billion in operational cost savings for the French energy giant by 2030, prioritizing industrial contracts and the national nuclear sector.
CMS Energy Corporation has announced a cash tender offer for debt securities totalling $125 million, issued by Consumers Energy. The offer expires on July 3, 2025, with priority given to bonds submitted before June 17, 2025.
Vermilion Energy is exiting the U.S. market permanently by selling its assets for C$120mn ($87.88mn), refocusing its operations on Canada and Europe while reducing its debt and investment budget.
In 2024, Italian energy giant Eni paid approximately €8.4 billion to various global governments. These payments, primarily concentrated in Africa and Asia, reflect its commitments in the international energy sector.
The International Energy Agency projects a record-high global energy investment in 2025, driven by electricity and low-carbon technologies despite geopolitical and economic uncertainty.
The Czech regulatory authority launches an investigation into suspected collusion involving several major actors in the awarding of a thermal power plant, putting transparency of a strategic transaction for the energy sector at stake.
The Democratic Republic of Congo is set to replace its temporary ban on cobalt hydroxide exports with quotas, aiming to balance global demand, secure revenue, and stabilize market fluctuations.
European Energy secured EUR 145mn in financing from SEB and Swedbank to support wind, solar, and storage assets in Lithuania, reinforcing its regional expansion strategy.
Greenvolt Group finalised the sale of 28 solar and wind projects to Transiziona, valued at €195mn, bringing total asset sales to €530mn in 2025 as part of its pan-European strategy.