Iberdrola’s Q1 profits and EBITDA increased by 28% and plans to expand investment in renewable energy in 2024. This increase was partially due to the Mexico sale and a tariff deficit in its UK business. The utility’s investment in its renewable energy business also increased by over 50% to €994 million. The largest share of this investment was in offshore wind assets. Iberdala’s net installed solar PV capacity rose by 35.4% YoY, from 4,576MW in Q1 2023 to 6,195MW in 2025. Its capacity in Spain grew the most sharply, up 46.9% from 2,777MW to 4,079MW. The company also signed a financing deal with the Sovereign Wealth Fund of Norway to develop around 1GW of solar PV power in Spain, which was expanded in January with financing for another 1.3GW of Iberian renewables.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
