Iberdrola, VERBUND, and EVN diversify energy generation strategies

Energy companies are increasingly diversifying their generation portfolios to mitigate risks associated with weather variability and resource availability.

Spanish energy group Iberdrola has commissioned the Vineyard Wind 1 offshore wind farm off the coast of Massachusetts, USA. The project represents an investment of approximately four billion euros and has an installed capacity of 806 MW, capable of supplying over 400,000 households and businesses in New England. Iberdrola’s total global offshore wind capacity rose by 16.2 percent in the first half of 2026 to 2,621 MW.

In contrast, Austrian utility VERBUND saw its hydropower generation decrease by 9.8 percent in the first half of 2026 due to exceptionally low water levels, contributing to a 24.9 percent decline in EBITDA. Meanwhile, EVN AG faced similar challenges with wind and water conditions but managed to offset impacts on renewable production through additional wind and photovoltaic capacities.