Iberdrola's EGL4 Contracts Add Long-Term UK Grid Visibility For Investors [Yahoo! Finance]
IBERDROLA SA S/ADR (IBDRY)
NASDAQ:AMEX Investor Relations:
iberdrola.com/shareholders-investors
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Source: Yahoo! Finance
SP Energy Networks, an Iberdrola subsidiary, has awarded multi billion pound contracts for the Eastern Green Link 4 subsea electricity interconnector between Scotland and England. The project is planned to start construction in 2028 and complete by 2033, with Siemens Energy as a key partner. EGL4 is intended to transmit renewable electricity to more than 1.5 million homes in the UK. Iberdrola (BME:IBE), trading at €20.07, has seen its share price return 36.3% over the past year and 112.3% over five years. The company now has this long dated UK transmission project alongside existing operations, which may interest investors who are following large capital commitments linked to renewables infrastructure. With work on EGL4 scheduled to run from 2028 to 2033, the project adds long term visibility to Iberdrola's role in UK electricity networks. Investors can monitor how contract execution, regulatory developments and future project milestones influence sentiment around BME:IBE ove
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