Iberdrola has signed an agreement to acquire the electricity business of Electra del Maestrazgo. The company is a family-owned utility based in Castellón. This move is part of Iberdrola’s strategy to expand its electricity networks business in Spain. The acquisition covers distribution, retail, and energy generation activities.

Specifically, Electra del Maestrazgo owns 1,350 kilometers of medium- and low-voltage power lines. It also manages 21,000 supply points and serves 19,000 clients. Additionally, it operates 6.8 MW of installed capacity through photovoltaic and hydroelectric plants. Iberdrola will integrate these assets into its network business. As a result, the company will strengthen its presence in Castellón and Teruel.

Moreover, the deal aligns with Iberdrola’s strategic plan, which emphasizes the importance of regulated electricity networks. In line with this plan, the company will invest over €13 billion in its grid business between 2025 and 2026. Iberdrola aims to reach €51 billion in regulated network assets by the end of 2025. This figure would increase from the €49 billion reported in the first quarter.

Finally, the transaction is subject to approval by Spain’s National Commission on Markets and Competition (CNMC).

Advisors

Pinsent Masons advised Iberdrola on the acquisition. The team was led by partners Juan de Navasqüés and Alfonso Bayona, with support from associate Sergio Peñamaría and junior associate Mercedes Buades.

Electra del Maestrazgo was advised by PwC and Falomir del Campo Abogados. The PwC team included Jerónimo Callejo (Director), Beatriz Hernández (Manager), and Alejandro Taboada (Manager), while legal counsel was provided by Luis Falomir del Campo.