Iberdrola Plans to Boost U.S. Renewable Power by About 50 Percent: CEO

The company expects to spend about $15 billion in the United States on its transmission and distribution system and increase its renewable generation to around 10,000 megawatts (MW) by the end of 2022.

Iberdrola SA, the world’s biggest wind power producer, plans to expand its renewable capacity in the United States by about 50 percent over four years as part of the Spanish electric utility’s global plan to reduce carbon emissions, its chief executive told Reuters on Monday.

Ignacio Galan, who was in New York to speak at the United Nations’ Global Compact Leaders Summit, said the company expects to spend about $15 billion in the United States on its transmission and distribution system and increase its renewable generation to around 10,000 megawatts (MW) by the end of 2022.

“More and more investors are looking for companies with clean energy and sustainability goals,” Galan said, noting Iberdrola sells the energy that helps those companies meet those targets.

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