Spanish energy giant Iberdrola has agreed to sell its subsidiary SP DataServe as part of its broader strategy to streamline operations and focus on core energy infrastructure. The deal reflects the Spanish utility’s ongoing asset rotation plan, through which it is divesting non-essential businesses to prioritise regulated networks and renewable energy investments.
SP DataServe, linked to the management of smart meter data and services in the UK via ScottishPower, is being transferred to a new owner (reported as Macquarie in related coverage of the transaction). The sale is valued at roughly £900 million, highlighting strong investor interest in energy data and metering assets.
This move aligns with Iberdrola’s wider investment strategy, which prioritises stable, regulated returns from electricity transmission and distribution networks. The company plans to invest around £24 billion in the UK between 2024 and 2028, mainly in grid infrastructure and renewable generation.
Despite the divestment, ScottishPower will continue collaborating with the new owner to support the rollout and operation of smart meters for customers. Meanwhile, the buyer is expected to expand its position in the UK metering market, where demand continues to grow due to the national smart meter programme.
Overall, the transaction demonstrates Iberdrola’s shift towards concentrating capital on long-term strategic assets, while monetising mature or non-core divisions to fund future growth in energy networks and clean power.
