Iberdrola expands Madrid EV charging hub and puts cogeneration business up for sale

Iberdrola | bp pulse added four new ultra‑rapid 360 kW chargers to its Nuevos Ministerios hub in Madrid, bringing the site’s total to 26 points and 26 % more capacity. The expansion follows a 30 % rise in use during the first half of 2026, allowing drivers to add up to 300 km of range in 10‑15 minutes. The station, located in the Metro parking lot and supplied with 100 % renewable electricity, also offers one hour of free parking for users. CEO Pablo Pirles highlighted the hub’s growing importance for electric‑vehicle commuters in the city.

In parallel, Iberdrola has launched the sale of its industrial cogeneration portfolio in Spain, a 264 MW asset base valued between €200 million and €300 million. The move is part of the group’s strategy to divest non‑core assets and focus on renewables and networks. Production from the cogeneration plants has fallen 30 % year‑on‑year, and the assets represent only about 2 % of Iberdrola’s total generation. The sale is being timed with a new government decree that will open future auctions to renew up to 1,200 MW of cogeneration capacity, potentially enhancing the assets’ attractiveness to buyers.