Iberdrola
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| Sociedad Anónima | |
| Traded as |
BMAD: IBE IBEX 35 component |
| Industry | Electric utility |
| Founded | November 1, 1992 |
| Headquarters | Bilbao, Spain |
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Key people
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Jose Ignacio Sanchez Galan (Chairman and CEO) |
| Products | Electricity generation and distribution, renewable energy, natural gas production, sale and distribution, telecommunications |
| Revenue | 31.418,7 million € (2015) |
| Profit | € 2.421,6 million (2015) |
| Total assets | 104.664 million € (end 2015) |
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Number of employees
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28,836 (average, 2015) |
| Subsidiaries | Elektro, Iberdrola USA, Scottish Power |
| Website | [1] |
Iberdrola (Spanish pronunciation: [iβerˈðɾola]) is a Spanish public multinational electric utility company based in Bilbao, Basque Country. Iberdrola has a workforce of around 31,330 employees in dozens of countries on four continents serving around 31.67 million customers. Subsidiaries include Scottish Power (Scotland), Avangrid (United States) and Elektro (Brazil), amongst others. The largest shareholder of the company was, in 2013, Qatar Investment Holding; other significant shareholders are ACS, Kutxabank and Bankia.
Since embarking on its growth and international expansion plan in 2001, Iberdrola has become Spain’s largest energy group by market capitalisation, the global leader in wind energy and one of the world’s largest utilities by market capitalisation. The company is a component of the Euro Stoxx 50 .
Iberdrola was created on November 1, 1992 as a result of the merge between Hidroeléctrica Española and Iberduero. Hidroeléctrica Española, also known as Hidrola had started activity in 1907, while Iberduero started in 1944 as the result of the merge between Hidroeléctrica Ibérica (1901) and Saltos del Duero.
The origin of Iberdrola lies in the Spanish industrialisation in the early 20th century, when Hidroeléctrica Ibérica was formed. As of 2011 and with the integration of Scottish Power and Energy East, now renamed Iberdrola USA, the company has become a major multinational group.
In 1840, a group of American entrepreneurs created the Hartford City Light Company, setting in motion the incorporation on the eastern seaboard of the US of Energy East, which would much later become Iberdrola USA. Meanwhile, thousands of kilometres away in Spain, a similar process was underway. In 1901 in Bilbao, a group of entrepreneurs headed by engineer Juan de Urrutia established Hidroeléctrica Ibérica. In 1907, Hidroeléctrica Ibérica shareholders created Hidroeléctrica Española to supply Madrid and Valencia. A decade later, Saltos del Duero was founded, opening the country’s first hydroelectric facility in 1935, the Ricobayo power plant.
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Wikipedia