5 European Utility Stocks to Buy Now

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1. Iberdrola, S.A. (OTC:IBDRY)

Market Capitalization: $68.46 billion

Iberdrola, S.A. (OTC:IBDRY) is a Bilbao, Spain-based utility company.

Iberdrola, S.A. (OTC:IBDRY) has partnered with BP plc (NYSE:BP) and plans to invest $1 billion in the field of electric vehicle (EV) charging. The company plans to work toward developing green large-scale hydrogen production capabilities. The initiative intends to roll out 11,000 fast EV charging points across Spain and Portugal by 2030. Furthermore, the project intends to launch 5,000 fast EV charging points by 2025. BP will be able to leverage its network of 1,300 retail sites across both countries.

On August 10, Iberdrola, S.A. (OTC:IBDRY) brought the biggest solar power plant in Europe into operation. The $305 million Francisco Pizzaro PV array has a potential capacity of 590MW and will provide power to 335,000 homes in the region. The plant will lower carbon emissions by 150,000 tons every year. Iberdrola, S.A. (OTC:IBDRY) intends to increase its renewable energy installed capacity to 25 GW in the upcoming years from its current total of over 19.3 GW.

You can also take a peek at the 10 Best Dividend Stocks to Buy in 2022 and 12 Best FMCG Stocks to Buy Now.

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