Iberdrola seeks pivot away from offshore wind as it sells stake in British project

The company continues to see the US as a key market despite opposition from President Donald Trump’s administration to offshore wind. However, the bulk of its investments are in power networks — regulated at state level — in Democratic-controlled states such as New York, Maine, Massachusetts, and Connecticut.

In September, Iberdrola announced a 30 per cent increase in investment through 2028 to €58 billion — two-thirds of which are destined for British and US power networks.

(Reporting by David Latona; Editing by Jane Merriman)