Europe Needs to Speed Up Energy Independence Path, Galan Says
Iberdrola is boosting spending on solar and wind plants.
Photographer: Angel Navarrete/Bloomberg
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Soaring costs for energy underline the need for Europe to accelerate the path to self-sufficiency, Iberdrola SA’s Chief Executive Officer Ignacio Galan said on Wednesday.
Russia’s war in Ukraine is forcing a major rethink on where the region sources its energy supplies. The crisis worsened Wednesday as the top natural gas exporter said it had started to cut off supplies to Poland and Bulgaria.