ABSTRACT
Iberdrola, the Spanish utility giant formed in 1992, has a rich history of innovation and accomplishments. With Spain's domestic economic liberalisation and accession to the Europe Council, the company's diversification strategy extensively expanded via acquisitions into diverse domains. Nevertheless, a change in leadership brought in a focused commitment to clean energy via the launch of its Strategic Internationalisation Plan. Over the past years, the firm has gradually transformed its portfolio into clean and sustainable assets. The chapter discusses and highlights how the company transformed its portfolio's last two coal-fired power plants into clean energy assets amid political and economic challenges and provides key takeaways. The paper also discusses a different but equally successful model of sustainability and innovation – the Italian energy multinational Enel's model of CSV (Creating Shared Value). The paper closes with a discussion of the NextEra Energy’s, a US energy company, successful decarbonisation strategy
