In the first nine months of 2017, Iberdrola carried out investments worth € 3.99 billion, up by 31.5% from the same period last year. 91% of investments were allocated to networks, renewable energy and long-term contracted generation. In this sense, Iberdrola is currently building 7,361MW capacity, to be commissioned by 2020, of which 2,700MW will be operational in 2018.
These new facilities will be, for the most part, offshore and onshore wind farms (1,064MW and 1,412MW respectively) as well as combined cycles and co-generation plants (3,571 MW).The company hired 2,559 employees in the period, bringing total staff to more than 34,000 people, while making purchases of over € 6.3 billion to more than 20,000 suppliers. The company's net profit reached € 2.41 billion between January and September, an 18.4% increase from the same period last year. Results for the renewables business was stable with € 1.14 billion Ebitda, in line with the first nine months of 2016. Although Spain was also affected by low wind resource, results improved elsewhere, growing in the UK (+34.7%) as well as Brazil and Mexico (+3%). In addition, the United States is now the country with the largest contribution to renewables earnings, with 36% of the total.
