The Spanish company Iberdrola, with a market value of more than 70,000 million euros, has become this week the second largest electricity company in the world, only behind the American NextEra, according to the closing of the trading floors on Friday.
The electricity company chaired by Ignacio Galán manages to climb on the podium in a week in which the main Spanish energy companies have presented results.
The Basque electric company closed on Friday with a capitalization of 70,201 million euros, surpassing the also American Duke Energy with which it competes very closely. NexEra, with 136,000 million euros, is the world’s leading electricity company.
However, in Europe Iberdrola already led the ranking of companies with the highest capitalization above the Italian Enel, parent of Endesa, and the French state-controlled EdF, which concluded yesterday with capitalizations of 53,212 million euros and 46,108 million , respectively.
Last Wednesday, in the presentation of its annual results, the company announced that it continues to take firm steps in its commitment to accelerate the energy transition to reduce dependence on fossil fuels, despite this being the sector that has benefited most from the crisis, according to recently known results.
This new position coincides at a crucial moment for the energy transition. Iberdrola made historic investments of 10,730 million euros in 2022, which is 13% more than the same period of the previous year. This has allowed the company to obtain a global net result of 4,339 million euros, despite the 19% drop in the net profit of Iberdrola Spain.