The Wall Street Journal’s Sarah McFarlane writes about Spanish energy company Iberdrola who is planning to invest $88 billion into the energy transition.
- Iberdrola has announced plans to almost double their renewable energy capacity to 60 gigawatts by 2025.
- The Spanish energy giant has also made investments into U.S. based companies in an effort to reduce global emissions.
“This year has seen the rise of clean power companies—including Iberdrola, Enel and, in the U.S., NextEra Energy Inc. —into the upper echelons of the world’s most valuable energy companies. That has come as traditional oil majors grapple with the fallout from the coronavirus pandemic, which has decimated demand for crude and tanked prices. There is also broader support from companies, investors and governments for low-carbon energy.”
Read the full article here.