Renewables just posted its report card — and the numbers are compounding.
A major Iberian utility, a multilateral lender and a Gulf grid operator all deployed capital into the same trade this week: more renewable capacity, and the transmission to carry it.
What we’re tracking today:
Iberdrola posted a 22% jump in H1 net profit to €4.34bn, with Spanish solar capacity passing 5.5 GW and total generation capacity up 4% to 56.8 GW. Strong utility earnings keep funding the next wave of Iberian renewables investment.
The World Bank approved a $1.5bn loan to South Africa to fund electricity and transmission reform, targeting 3,500 MW of new renewable capacity by March 2027 and 200 km of new lines. Private investment in the country’s renewables has already grown sixfold.
In Dubai, DEWA’s transmission investment has now passed AED 10bn (about €2.5bn), with new substations tied directly into the Mohammed bin Rashid Al Maktoum Solar Park. Grid buildout like this is what turns Gulf solar pipelines into bankable capacity.
At Persimmon Investments, that’s exactly the layer we underwrite: the capital and the grid behind the generation.