Iberdrola Grows Footprint in Castellón and Teruel with New Grid and Generation Assets

Iberdrola has strengthened its networks business in Spain by acquiring the energy distribution, supply, and generation activities of Electra del Maestrazgo, a family-owned utility based in Castellón.

The acquisition includes 1,350 kilometers of medium- and low-voltage power lines, 21,000 supply points, 19,000 retail customers, and 6.8 megawatts of installed capacity from both photovoltaic and hydroelectric power plants. These assets will be integrated into Iberdrola’s existing operations, further expanding its presence in the provinces of Castellón and Teruel.

This move aligns with Iberdrola’s strategic focus on growing its electricity networks business, a key priority in the company’s long-term investment strategy. In response to rising electrification needs, Iberdrola plans to invest more than 13 billion euros in electricity networks between 2025 and 2026.

The company is on track to increase its regulated network assets to 51 billion euros by the end of 2025, up from 49 billion euros reported in the first quarter of this year.

The transaction is subject to regulatory approval from Spain’s National Commission on Markets and Competition (CNMC) before it can be finalized.