Who is Ignacio Galán, the Executive Chairman of Iberdrola?
You would be hard pressed to find a more influential figure in the world of energy right now than José Ignacio Sánchez Galán, better known simply as Ignacio.
As Executive Chairman and de facto leader of Iberdrola, one of the world’s largest, fastest growing and most valuable utility companies, Ignacio possesses an influence over the energy transition that few others do.
Under his guidance, Iberdrola has established itself as one of the world’s most sustainable companies, with a portfolio of renewables to match most any company on the planet.
As such, he is the subject of much admiration and is regarded as an example for others looking to make a sustainable impact.
But how exactly did Ignacio become the architect of the energy transition in Europe and beyond?
Ignacio’s career path
When Ignacio became Executive Vice-Chairman and CEO of Iberdrola in 2001, few could have predicted the scale of transformation he would orchestrate.
Born in Salamanca in 1950, his career began far from the energy sector.
He spent his early years at Sociedad Española del Acumulador Tudor, where he led international expansion efforts.
His trajectory then took him through telecommunications, where he served as CEO of Airtel Móvil during Spain's sector liberalisation and aerospace, where he chaired Eurojet and led Industria de Turbopropulsores from its inception.
But it was at Iberdrola – where he became Executive Chairman in 2006 – that he would leave his most memorable mark.
How to build a renewable powerhouse
Under Ignacio's leadership, Iberdrola has invested more than US$165bn in renewable energies, smart grids, energy storage and green hydrogen.
The company has grown from a primarily Spanish utility into Europe's largest by market cap, reaching approximately US$142bn by the beginning of 2026.
Iberdrola now stands as one of the two largest electricity companies globally by market value.
The numbers speak to the scale of this transformation.
At the end of the first nine months of 2025, Iberdrola operated 45,263MW of renewable capacity.
The company supplies energy to nearly 100 million people across dozens of countries through subsidiaries including ScottishPower in the UK, Avangrid in the US and Neoenergia in Brazil.
Its workforce exceeds 42,200 employees and assets surpass US$175bn.
Ignacio’s strategy
Iberdrola's Strategic Plan for the next three years will see the Bilbao-based firm allocate US$64bn in investments, with a marked pivot towards electricity networks.
The company is also planning to invest US$37bn in distribution and transmission infrastructure, primarily in the UK and US.
"The opportunities that the United States offers at the moment are great," he said recently on Bloomberg TV.
This represents approximately 70% of the network investment, targeting an average nominal return on equity of about 9.5% in new projects.
The renewables portfolio receives US$23bn, with 38% dedicated to offshore wind.
Projects under construction include East Anglia TWO and East Anglia THREE in the UK, alongside Windanker in Germany.
By 2028, Iberdrola expects to exceed 60GW of installed renewable capacity, with 75% already under construction or ready to build.
Approximately 85% of production will be secured through long-term contracts and power purchase agreements.
Ignacio’s influence at the highest levels
Ignacio's influence extends well beyond corporate boardrooms.
His importance to the global energy market was illustrated clearly at COP30 last November, where he was one of only 10 private sector figures to receive an invitation to speak with world leaders at the conference’s opening discussions.
During these sessions, Ignacio outlined investment priorities in electricity grids, renewable energy expansion and storage technologies as mechanisms to advance climate objectives.
His participation in high-level climate talks has been consistent since Copenhagen in 2009, reflecting Iberdrola's long-term engagement with international climate policy.
Ignacio serves as chair of the Electricity Cluster at the World Economic Forum and sits on the steering committee of the European Round Table of Industrialists.
He is a member of the JP Morgan International Council, the Renewable Hydrogen Coalition and UNICEF's Generation Unlimited Global Leadership Council.
His advisory roles include membership on MIT's Presidential CEO Advisory Board.
Recognition and challenges
There has been an almost constant flow of accolades for Ignacio’s work since he joined Iberdrola.
In 2019, the Harvard Business Review selected Ignacio as one of the five most important CEOs in the world and the first in the utilities sector.
He was also recognised as Best CEO in the European utilities sector by Institutional Investor Research for twelve consecutive years.
In 2014, Queen Elizabeth II appointed him honorary Commander of the Most Excellent Order of the British Empire for promoting the British energy sector.
And more recently, in 2025, he received the Business Person of the Year award from UPF Barcelona School of Management.
Time Magazine included him in its first TIME100 Climate list in 2023, recognising the most innovative leaders driving business climate action.
Sustainability Magazine has also recognised both him and his company among the world’s most influential in recent years.
However, Ignacio's tenure has not been without controversy.
In 2022, he testified privately in Spain's High Court regarding an investigation into alleged corporate espionage and bribery between 2004 and 2017.
The allegations involved payments to private security company Cenyt for intelligence operations against energy competitors and officials.
The road ahead for Ignacio and Iberdrola
Now, in its 125th year, Iberdrola’s future is filled with opportunities, but it is also peppered with pressures.
Electric demand in the US is projected to grow by as much as 50% between 2035 and 2050, driven by data centres, artificial intelligence and industrial electrification.
Iberdrola's investments position it to capitalise on this demand growth.
The company expects to reach US$19.9bn in EBITDA by 2028, with approximately US$22bn allocated to dividends between 2024 and 2028.
At 75 years old, Ignacio continues to advocate for accelerated electrification through renewables.
“We need to accelerate the expansion of electrification through renewables to reduce our dependence on fossil fuels,” he says.
“Tripling renewables by 2030 is feasible and will mobilise investments of US$2.4tn a year.”
For an industry grappling with the pace and scale of energy transition, Ignacio's quarter-century track record at Iberdrola offers a model to emulate.
Whether this model of massive capital deployment in networks and selective renewable growth proves replicable across the sector remains an open question.
But for now, Iberdrola's performance suggests the strategy is resonating with investors and customers in a way that almost no other company can match.
