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Iberdrola to invest up to 4 billion euros in French renewable energy

Stock MarketsJun 03, 2020 06:20AM ET
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© Reuters. berdrola CEO, Jose Ignacio Galan speaks during a press conference near Ribeira da Pena

LONDON (Reuters) - Spanish utility Iberdrola (MC:IBE) said on Wednesday it will invest up to 4 billion euros ($4.5 billion) over the next four years in France to develop renewable energy.

Iberdrola said it is already investing 2.4 billion euros in the Saint-Brieuc offshore wind farm in France and plans to invest in new onshore wind, solar photovoltaic and participate in future offshore wind capacity auctions.

"France is a strategic country for Iberdrola," said Ignacio Galán, chairman and CEO of Iberdrola.

"The company is very interested in participating in the new offshore wind capacity auctions to be held in the future by France," he added.

Iberdrola to invest up to 4 billion euros in French renewable energy
 

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Carlos Martinez
Carlos Martinez Jun 03, 2020 6:56AM ET
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Iberdrola is Spain main energy producing company. most of their asses where obtain or given at special discount form the breakup of the goverment national control. Many of their top payed shareholders are previous goverment members. Currently Spain boast the highest rate  fee electrical cost. You also pay a 7% tax on your solar producing energy. for being connected to the grid. The company is a hive of crocks and thieves. If one wishes higher electrical cost all you need is have these people run your line.
 
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