Spanish utility group Iberdrola SA (<a href="https://www.bolsasymercados.es/bme-exchange/es/Mercados-y-Cotizaciones/Acciones/Mercado-Continuo/Ficha/Iberdrola-ES0144580Y14" target="_blank">BME:IBE</a>) posted a reported net profit of EUR 2.004 billion (USD 2.29bn) for the first quarter of 2025, down by 27.4% year-on-year, reflecting a decline in power generation after <a href="https://renewablesnow.com/news/iberdrola-closes-usd-6-2bn-sale-of-power-assets-to-mexican-state-849747/" target="_blank">last year’s sale</a> of gas-fired plants and a wind farm in Mexico.