Scottish Power owner pledges £24bn to upgrade UK’s green energy

Monday 21 Oct 2024
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‘Vote of confidence’ by Iberdrola of Spain comes before the prime minister’s International Investment Summit

The owner of Scottish Power will set out plans to double its multibillion-pound investment in Britain over the next five years, in one of the first of several deals expected to be announced as international business leaders arrive in London next week.

Iberdrola, the Spanish energy group, will spend £24 billion on upgrading the high-voltage cables needed to transport power around the country and on building more wind farms, making Britain its largest destination for investment in the world.

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