Iberdrola Sells Its UK Metering Subsidiary SP Dataserve Through ScottishPower As Part Of Its Portfolio Streamlining Strategy

Iberdrola, through its UK subsidiary ScottishPower, has signed an agreement to sell SP Dataserve, a company that provides commercial metering services to non-domestic customers in the United Kingdom, to IMServ. By the end of 2025, SP Dataserve was delivering 36,800 services to around 22,000 non-domestic customers across the UK. IMServ, the buyer, is a metering and energy services provider wholly owned by Bluewater, a specialist private equity firm with investments throughout the energy value chain.

The divestment of this non-core business is part of Iberdrola’s ongoing portfolio management strategy, which aims to reinforce its core activities while optimising capital allocation. The sale represents the disposal of a non-strategic asset within ScottishPower and follows the 2025 transfer of Iberdrola’s UK smart meter business to Macquarie. Together, these steps simplify Iberdrola’s overall business structure in the UK.

The United Kingdom remains Iberdrola’s main investment market. Under its strategic plan, the Group intends to invest €20 billion in the country by 2028. Most of these funds will go toward expanding and modernising electricity networks—an essential area for enabling the electrification of the economy, improving energy security, and enhancing competitiveness. The approval of the new transmission tariff framework will allow Iberdrola to quadruple the capital dedicated to this business segment.

This transaction adds to several other moves made by Iberdrola so far this year, including the acquisition of the Ararat wind farm in the Australia, the sale of its onshore generation business in France, the sale of small hydroelectric assets and sludge treatment activities in Spain, the divestment of its assets in Hungary, and the contribution of an additional 650 MW of solar capacity to its joint venture with Norges. The closing of the SP Dataserve transaction remains subject to customary conditions, including regulatory approval.