Qatar considers increasing stake in Iberdrola beyond 10%

Qatar Investment Authority (QIA), with assets valued at $475 billion, is looking to increase its stake in Spain’s leading utility company, Iberdrola, from 8.8% to over 10%, according to local Spanish media reports. This move would further solidify QIA’s position as Iberdrola’s largest shareholder, surpassing BlackRock (5.395%) and Norges (3.115%).

QIA began its investment in Iberdrola in 2011 with a 6.16% stake, peaking at 9.7% in 2017. Any increase in shareholding would likely only impact Iberdrola’s board, without affecting overall management. The Spanish Government retains the authority to block or set conditions on major foreign share purchases in strategic companies.

In 2023, Iberdrola held a 22.4% share of Spain’s power generation market, leading the sector ahead of Enel SpA (15.4%) and Naturgy Energy Group (12.4%).