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Iberdrola raises $5.9 billion to strengthen its grids in the UK and the US

Iberdrola launches a EUR5 billion (USD5.87 billion) capital increase to fund the expansion and modernization of its power grids in the UK and the US, while announcing a decline in its half-year profit.

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Iberdrola, Europe’s largest utility, has announced a EUR5 billion (USD5.87 billion) capital increase to support a new phase of investment in power infrastructure in the UK and the US. This move is aimed at strengthening the company’s presence in these markets, which are known for their stable and reliable returns.

Increased investments in strategic grids

The company plans to raise its annual investments to around EUR15 billion, up from the current EUR12 billion. This capital increase, combined with new debt financing, asset sales, and partnerships, will support an expansion strategy focused on power grids. Iberdrola intends to adapt its infrastructure to meet the growing needs for electrification and the integration of renewable energy in both countries.

The capital raise will be conducted through an accelerated book-building process, with shares priced at EUR15.10 each, compared to a last closing price of EUR15.895. Spain’s stock market regulator, Comisión Nacional del Mercado de Valores (CNMV), temporarily suspended the company’s shares this morning.

Half-year results and financial outlook

Iberdrola also reported a net profit for the first half of EUR3.56 billion (USD4.18 billion), marking a 14% decrease from the same period last year, when results included the sale of gas assets in Mexico. Excluding one-off items, the company noted a 20% increase in profit year-on-year.

The company is expected to present a new strategic roadmap in September, reflecting its evolving investment priorities amid the transformation of global energy systems. The simultaneous use of multiple financing levers reflects a commitment to maintaining balance sheet strength while pursuing growth in the most promising sectors.

Iberdrola’s strengthened position in the UK and the US underscores the importance of these markets in the company’s development strategy in a sector where infrastructure reliability remains a key challenge.

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