Iberdrola Overtakes NextEra Energy as World's Top Power Company by Market Value
Spanish utility Iberdrola surpassed Florida-based NextEra Energy to become the largest power provider worldwide, with a market cap exceeding €141 billion.
Iberdrola's ascent to the top spot reflects its extensive global presence across Europe, the Americas and Australia. Both Iberdrola and NextEra have heavily invested in large-scale renewable projects and are targeting growth from data-center demand and broader electrification. The shift in ranking comes as Iberdrola's market valuation passed €141 billion. Analysts note that NextEra could regain leadership if its $67 billion merger with Dominion receives regulatory approval in the United States.
Why it matters
The ranking shift highlights the growing dominance of renewable-focused utilities in the global energy sector.
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