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Iberdrola CEO Pedro Azagra at Semafor World Economy, Sonic AI
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Semafor World Economy Summit 2026
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Iberdrola CEO Pedro Azagra at Semafor World Economy
Semafor World Economy Summit 2026
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May 1, 2026
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13:40
Conference
Interview
Iberdrola CEO Pedro Azagra at Semafor World Economy
From
Semafor World Economy Summit 2026
· 2026
Pedro Azagra
(CEO, Iberdrola, guest)
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Executive Summary
Iberdrola is making a massive, multi-year investment ($75B from 2025-2028) focused on organic growth, particularly in upgrading aging regulated utility networks in the US and UK.
The primary bottleneck for the US energy transition and infrastructure build-out is not capital but lengthy permitting and litigation processes, which can take 5-10 years for new projects.
Surging electricity demand from AI and data centers is a major growth driver, with Iberdrola already supplying 1,200 MW to these customers and building an additional 800 MW.
Energy security is increasingly tied to domestic electrification and robust grid infrastructure, reducing dependence on volatile global gas markets, a vulnerability seen in countries like Germany and Italy.
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