The investment will primarily focus on wind farms, smart grids, and possibly carbon capture. Through the Iberdrola-owned ScottishPower, the company plans to invest in wind power, nuclear energy and clean coal.
Wind power projects are among key projects for the future with Iberdrola Renovables and Vattenfall constructing the 7.2 GW East of Anglia Array offshore wind farm. It has a further 2.3 GW in the pipeline in the UK including the 500 MW West of Duddon Sands wind farm together with DONG Energy.
Earlier this year, Iberdrola announced the establishment of its Offshore Business Division in Scotland.