Business Strategy and Outlook| Tancrede Fulop, CFA |
Iberdrola is the biggest Spanish utility and one of the biggest integrated utilities in Europe. It is the European utility with the largest exposure to the United States due to its wind development and the acquisition of UIL in 2015. Its U.S. assets are now grouped in 81.5%-owned Avangrid. In Europe, besides the domestic Spanish market, Iberdrola has a strong exposure to the United Kingdom since the acquisition of Scottish Power in 2007.