Iberdrola said it planned to issue 20% of the shares in its renewables business, which is being restructured to establish Iberdrola Energias renovables (Iberenova). The company said that the restructuring would see a capital increase to be followed by the share listing.
The group, which includes the assets of ScottishPower, has more than 6.5GW in total renewable capacity. It also has about six times as much capacity in development – a total of almost 38GW, including hydro power.
Whilst hydro power features in the growing renewables portfolio, the company said that a key strategy of its renewables business is to pursue wind power.
