Scottish power grids, subsidiary distribution company شركة Iberdrola On United kingdom, will invest 3,200 million pounds (3,700 million euros at the current exchange rate) in five years with the aim of continuing to strengthen energy conversion And digital in the country in its transition to electrified economy s No carbon.
Today, the company presented its plan for investment In Networks 2023-2028, under the RIIO-ED2 regulatory cycle.
The plan embodies the vision of ScottishPower, the UK’s first 100% green energy company, to build a grid capable of responding to the challenge of achieving net zero emissions – along 105,000 km of the grid and 30,000 substations, which will benefit millions of customers in Scotland, England and Wales. .
These investments will contribute to the growth of low-carbon technologies to meet the UK’s climate goals, with 670,000 electric cars, 370,000 local heat pumps and an additional 5,000 megawatts of renewable generation capacity.
The initiative will also have a relevant social and economic impact, as, linked to these investments, it plans to employ more than 1,100 professionals and generate thousands of indirect “green” jobs in this period.
Frank Mitchell, CEO of ScottishPower Energy Networks, said, “The task cannot be understated. If the UK is to achieve its Net Zero targets, we must implement one of the largest and fastest improvements to its critical infrastructure ever in the country.
Mitchell also explained that, “At RIIO-ED2, we have to respond to the changing needs of our customers as we move toward Net Zero. Through our investment plan, we have laid the foundation to continue providing exceptional service, supporting our most vulnerable customers and taking a more proactive role in our communities.”
Iberdrola will invest €30,000 million in its network activity globally through 2025, representing 40% of its 2020-2025 plan, in which these regulated assets are configured in one of the central axes of its strategy and key infrastructure for moving towards a digital green economy. In this way, its network assets will rise to 47,000 million in 2025 and will be located mainly in “A” rated countries.
The company operates one of the most important electrical distribution systems in the world: more than 1.2 million kilometers of power lines, which supply electricity to more than 34 million people in the world. In addition, it has 15 million smart meters in the world, which will approach 17 million in 2022 and exceed 21 million in 2025.