Iberdrola SA Chief Executive Officer Ignacio Galan faced renewed criticism from his biggest investor, which analysts say may be plotting to undo the international expansion he carried out at the Spanish utility.
Chairman Ignacio Galan of Iberdrola SA, the world’s biggest producer of renewable energy, has battled for five years to limit the influence of his largest investor. Galan is about to lose one of his best tools.
The U.K. risks blackouts this decade unless it gives industry details soon about the capacity auctions intended to spur the development of new gas-fired power plants, the executives at Spain’s biggest utility said.
Iberdrola SA may appoint a Chief Executive Officer alongside Chairman Ignacio Galan to curry favor with institutional investors in its battle against Actividades de Construccion y Servicios SA, Reuters said.