Ignacio Galán named an Honorary Fellow of the Madrid Association of Economists

Iberdrola Executive Chairman Ignacio Galán has been named an Honorary Fellow of the Madrid Association of Economists in recognition of his “professional career and his contribution not only to making the Iberdrola Group the most important electricity company in Europe and the second largest in the world, but also to making it a key driver of Spain's cohesion, growth and prosperity”.

The award ceremony was held today in the auditorium of the Complutense University of Madrid and was presided over by Amelia Pérez Zabaleta, Dean and President of the Madrid Association of Economists.

In his address, Ignacio Galán highlighted electrification as an opportunity for Europe to bring about “structural change”, moving from a model characterised by high energy expenditure and dependence on fossil fuel imports to one “based on high-value-added productive investment”. Making this possible will require estimated annual investment of more than €200 billion over the next decade, half of which will need to go towards electricity networks.

 

The laudatory address in honour of Galán was delivered by Pablo Hernández de Cos, General Manager of the Bank for International Settlements (BIS), former Governor of the Bank of Spain and a candidate for the presidency of the European Central Bank (ECB).

In his speech, Hernández de Cos highlighted how “the ambitious growth strategy pursued by Ignacio Galán has enabled Iberdrola, 25 years after he joined the company, to establish itself as Europe's leading electricity company. Just a few weeks ago, it even reached the top position worldwide in the sector by market capitalisation. He recognised that electrification would play a highly significant role in the economy and knew how to turn that vision into investment and value creation”.

You can read more about Ignacio Galán's appointment as an Honorary Fellow of the Madrid Association of Economists in the Press room on the corporate website.