Our renewables.digital research team has identified Iberdrola, S.A. as Spain’s largest renewable energy developer, with a renewable capacity of over 44.600 MW. Based on the company’s installed capacity, investment volume and project pipeline, the renewables.digital team concludes that Iberdrola is one of the largest renewable energy developers not only in Spain and Europe, but also worldwide.
Which renewable energy assets is Iberdrola developing?
Iberdrola’s origins lie in Spain’s industrialisation in the early 20th century, when Hidroeléctrica Ibérica was founded in 1901. Since then, Iberdrola has become the world’s largest electricity utility and a leading specialist in renewable energies.
The company’s success is a direct result of its early recognition of changes in the global energy supply. As early as 2001, the company’s vision was that the world’s growing energy demand could only be met by renewable energy sources. Consequently, Iberdrola began to focus on renewable energy in the early 2000s. Iberdrola initially focused on wind energy, but quickly expanded into solar and hydroelectric energy, battery storage, as well as became involved in various hydrogen projects.
Today, the hard facts speak for themselves. Iberdrola has an installed renewable energy capacity of over 56,000 MW and aims to reach 100,000 MW, translating into assets of more than €158 billion. Iberdrola already supplies energy to nearly 100 million people. Between 2020 and 2025, Iberdrola will invest 75 billion euros in the energy transition. Over 42,000 employees worldwide are working to realise the company’s vision.
Overview of Iberdrola’s portfolio and pipeline
From its headquarters in Bilbao, Iberdrola has expanded across the globe. Its various subholding companies are located on every continent. In Brazil, Iberdrola operates under the name Neoenergia, S.A., while its American branch operates under the name Avangrid. Iberdrola México, S.A. and ScottishPower, Ltd. are country-specific branches, while Iberdrola Energía Internacional, S.A. encompasses the rest of their international business. Over a period of 12 months, the company and its subholding companies installed 2,511 MW of renewable energy. This resulted in renewable generation reaching 25,222 GWh.
In line with its development strategy, Iberdrola has become a global leader in power purchase agreements (PPAs). The company currently manages PPAs for onshore and offshore wind and photovoltaic projects in Spain, Portugal, Germany, Italy, the United Kingdom, the United States, Brazil, Mexico and Australia. Its most recent wind PPA was with Renfe, a Spanish train company, for 3,700 GWh until 2035.
Alternative candidates for the Spanish renewable energy developer ranking
Our team also considered several other prominent renewable energy developers in Spain for the top position.
Acciona is a Spanish conglomerate focused on infrastructure and renewable energy. Its subsidiary, ACCIONA Energía, the world’s largest 100% renewable energy company, develops wind, solar, hydro, battery storage, biomass, and hydrogen projects. It operates 13,300 MW of installed capacity on five continents and produced 26.7 GWh of renewable electricity in 2024.
This establishes Acciona as a major player in the renewable energy sector, although it cannot compete with Iberdrola in terms of installed capacity.
Zelestra Energy is a leading Spanish renewable energy developer with a global presence, focusing on wind and solar projects. In Spain, it holds a 6 GW portfolio, including 800+ MW in advanced stages and a €147 million contract for a 237 MWdc solar project. Its pipeline includes 8 GW in Southern Europe, 2 GW in Germany, 5.3 GW in India, and 11 GW across the US and Latin America.
Other candidates include Matrix Renewables and Prodiel, but neither of them can compete with Iberdrola in terms of investment, planned projects or installed renewable energy sources.
Picture Source: Karsten Würth via Unsplash
