Last year, Scottish Power sold its gas-fired, hydro and pumped storage plants to British power producer Drax, leaving Iberdrola with only wind power generators in Britain. Iberdrola has increased its investment plan for the 2025 period to € 8bn , up from € 32bn , and expects to invest 40% of the funding package in renewable energy. The utility will also pour 40% into its regulated network business. The utility will spend € 8bn in its home market of Spain , of which € 4.2bn will be dedicated to renewable energy. Iberdrola 's British arm, ScottishPower , will invest up to £2bn ($ 2.6bn ) on clean energy in the UK this year , marking the company’s largest ever 2025 investment. The UK subsidiary plans to develop 1 GW in British onshore wind projects by this year .
Iberdrola has increased its investment plan for the 2025 period to € 8bn , up from € 32bn , and expects to invest 40% of the funding package in renewable energy. The utility will also pour 40% into its regulated network business. The utility will spend € 8bn in its home market of Spain , of which € 4.2bn will be dedicated to renewable energy. Iberdrola 's British arm, ScottishPower , will invest up to £2bn ($ 2.6bn ) on clean energy in the UK this year , marking the company’s largest ever 2025 investment. The UK subsidiary plans to develop 1 GW in British onshore wind projects by this year .