Iberdrola has increased its investment plan for the 2015 - 2022 period to € 34bn , up from € 32bn , and expects to invest 50 % of the funding package in renewable energy . The utility will also pour 47 % into its regulated network investments . 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 ( $ 1 ) on clean energy in the UK this year , marking the company ’s largest ever single - year investment . Spanish energy company Iberdrola said on Tuesday it will speed up its investment plans, the majority of which will be spent on its networks and renewables businesses, as part of its four-year strategy to 2022. The British subsidiary plans to develop 100 GW in British onshore wind projects by 2020 .
Iberdrola has increased its investment plan for the 2015 - 2022 period to € 34bn , up from € 32bn , and expects to invest 50 % of the funding package in renewable energy . The utility will also pour 47 % into its regulated network investments . 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 ( $ 1 ) on clean energy in the UK this year , marking the company ’s largest ever single - year investment . The British subsidiary plans to develop 100 GW in British onshore wind projects by 2020 .