ScottishPower is to add a large chunk of north-west England’s power grid to its network, after its parent company bought it for £2.1 billion.
Spanish giant Iberdrola, which owns ScottishPower, said on Friday it has agreed to buy 88% of Electricity North West (ENW), which operates the grid from Carlisle down to Manchester and Merseyside.
ENW distributes electricity to almost five million people and has about 60,000km of electricity distribution networks, which will be operated by ScottishPower when the deal goes through.
Last week, ScottishPower’s chief executive Keith Anderson told the PA news agency he hopes to double the firm’s investments in UK energy projects to as much as £24 billion if policy changes by the new Labour Government pay off.
Mr Anderson said ScottishPower has a spending programme of £12 billion in the years to 2028, but he would “love to double that by the time we get to 2030”. https://uk.news.yahoo.com/scottishpower-owner-buys-north-west-154037597.html
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