The government's power reforms have brutally impacted the sector, its companies and the stock market. But Iberdrola will stay the course and expand to new and distant lands.
Mexico is on the itinerary. Here, Iberdrola has negotiated two mega-contracts worth 600 million euros in barely a month and has become the nation's main energy provider. Combined with Brazil, these countries are the power axis of all Latin America. Sánchez Galán bet big and won when he decided to turn a local company into a global force. International business strategies and cost cutting saved Iberdrola's business and added some economic energy to Spain as well.