Iberdrola has pledged to spend €15.5bn ($16.9bn) in renewables by 2026 amid a €41bn electrification drive dubbed “unstoppable” by CEO Ignacio Galan.

Investment into renewables will be selective, the Spanish green power giant said during its capital markets day, with half of it earmarked for offshore wind in the US, UK, France and Germany.

Out of the total renewables investment, €5bn will be contributed by partners in projects that have already been identified, and 100% of the green power investment will go to projects already under construction, the company said.