Iberdrola Doubles Down on Global Grids in €58 Billion Plan

Iberdrola SA is doubling down on its multibillion-dollar bet that global power grids will drive growth as demand for electricity for artificial intelligence, electric vehicles and heavy industry increases.

About two thirds of the Spanish utility’s €58 billion ($68 billion) investments by 2028 will go into networks in the US, the UK, Brazil and other key markets, according to an updated plan disclosed during its capital markets day in London on Wednesday.