Iberdrola to sell a stake in Scottish Power Energy Networks

The Spanish power firm Iberdrola, the parent company of Scottish Power, is looking to sell off a minority stake in its UK power grid.

The sale of up to 49 per cent of Scottish Power Energy Networks could raise between £1billion and £1.5 billion.

It is thought the sell-off is part of a strategy to ease Iberdrola’s debt burden, as well as allowing the company to invest in an estimated £8billion upgrade of the electricity network system.

The main potential buyers for the stake in Scottish Power Energy networks are thought to be infrastructure and sovereign funds.