{"id":39697,"date":"2026-06-13T15:18:35","date_gmt":"2026-06-13T15:18:35","guid":{"rendered":"https:\/\/www.europesays.com\/spain\/39697\/"},"modified":"2026-06-13T15:18:35","modified_gmt":"2026-06-13T15:18:35","slug":"iberdrola-starts-e5-billion-share-sale-to-boost-networks","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/spain\/39697\/","title":{"rendered":"Iberdrola starts \u20ac5 billion share sale to boost networks"},"content":{"rendered":"

Iberdrola<\/a> started a \u20ac5 billion ($5.9 billion) capital increase, the biggest share sale in Europe so far this year, to bolster investments in power networks and further its US and UK expansion.<\/p>\n

The Spanish energy giant will carry out an accelerated bookbuilding offering, it said in a regulatory filing Wednesday. The company has set an indicative price guidance of \u20ac15.10 per share to market, according to terms seen by Bloomberg. Indicative investor interest exceeds of the size of the deal.<\/p>\n

The share sale will strengthen Iberdrola\u2019s pivot toward power grids, which account for the bulk of the Bilbao-based company\u2019s planned spending through 2026. The Spanish utility will maintain its focus on the US and UK, saying tariff frameworks for transmission and distribution activities in the two markets \u201crepresents an unprecedented investment opportunity.\u201d<\/p>\n

The share sale will also result in total gross investment prospects of around \u20ac15 billion annually over the coming years, the utility said.<\/p>\n

Iberdrola expects its regulated asset base to triple to more than \u20ac90 billion in 2031 from the level in 2020. While it will grow almost fourfold in the UK and near double in the US, assets will shrink to \u20ac3.5 billion in its home market of Spain.\u00a0<\/p>\n

The company sees \u201clow incentives for investments and operation and maintenance costs\u201d in Spain.\u00a0<\/p>\n

The reliability of the Spanish power network has also been questioned in the wake of the nationwide blackout that left millions of people without electricity at the end of April.\u00a0<\/p>\n

Spanish market regulator CNMC has proposed increasing network returns to 6.46%, below the level in other European countries. Utilities lobby group Aelec, of which Iberdrola is a member, has said the low returns could jeopardize investments in the country.\u00a0<\/p>\n

Subscribe to\u00a0Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world\u2019s most consequential regions, written for the people who need to act on it. Sign up here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Iberdrola started a \u20ac5 billion ($5.9 billion) capital increase, the biggest share sale in Europe so far this…\n","protected":false},"author":2,"featured_media":39698,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[122],"tags":[18610,195,18611,146,471,18612,8257,7875,17,1709],"class_list":["post-39697","post","type-post","status-publish","format-standard","has-post-thumbnail","category-iberdrola","tag-editors-picks","tag-electricity","tag-europe-migrated","tag-iberdrola","tag-investment","tag-londonwires","tag-power-grid","tag-solar","tag-spain","tag-sustainability"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts\/39697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/comments?post=39697"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts\/39697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/media\/39698"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/media?parent=39697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/categories?post=39697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/tags?post=39697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}