The owner of Scottish Power will invest £12 billion and create 1,000 jobs by expanding its wind and solar farms and upgrading the cables needed to transport power around the country, in the latest spending plans that are seen as crucial to decarbonising Britain’s electricity network.
Under the four-year investment plan, Iberdrola will spend more in Britain than in Spain, Germany, France and Australia combined, and will be second only to the United States.
About £4.5 billion of the cash will be put towards building high-voltage power transmission lines and distribution lines that carry energy from local substations to the home, between now and 2026.
Another £3.8 billion will be spent on increasing renewable energy generation, predominantly offshore wind, as well as some onshore projects
