The economic newspaper Financial TimesExternal link, opens in new window. published Thursday 5 November an article on the pledge made by Iberdrola to invest EUR75 billion over the next five years to double its renewable energy capacity and help it capitalise on the global move away from fossil fuels.

Iberdrola chairman Ignacio Galan made this announcement during Capital Markets Day, held this Thursday, where he added that most of the EUR75bn would be spent on organic growth rather than acquisitions.

According to Mr. Galan, Iberdrola's renewables capacity will rise from 32 gigawatts last year to 60 GW in 2025, with 26 GW of onshore wind, 16 GW of solar and 14 GW of hydro. The remainder will be offshore wind.

The company expects to increase its net profit to EUR5bn in 2025, from EUR3.4bn last year as a result of this growth.

Contact:

Susana Sanjuan

Tel: +34 91 784 32 32

Email: comunicacioncorporativa@iberdrola.es

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