Iberdrola Renovables under investigation by Spanish court in alleged spying case

Iberdrola Renovables was placed under formal investigation by Spain's High Court on Friday as part of a probe into a decade-long alleged spying case, a court document showed. Iberdrola Renovables is a previously listed unit of Spanish utility Iberdrola that was folded into the parent company in 2011.

Iberdrola Renovables was placed under formal investigation by Spain's High Court on Friday as part of a probe into a decade-long alleged spying case, a court document showed.

Iberdrola Renovables is a previously listed unit of Spanish utility Iberdrola that was folded into the parent company in 2011. Judge Manuel Garcia Castellon will investigate whether the company committed bribery by hiring ex police chief Jose Manuel Villarejo to allegedly spy on Swiss company Eolica Dobrogea, which had allied with Ibedrola for projects in Romania.

A spokesperson at Iberdrola declined to comment and Villarejo's lawyer did not return messages seeking comment. The investigation is part of a wider inquiry, with Villarejo at the centre, that has roiled Spain's corporate sector, causing some reputational damage, but with no clear impact on businesses so far.

On Thursday Castellon placed energy company Repsol and lender Caixabank under investigation as part of a separate strand of the Villarejo case. Iberdrola CEO Ignacio Galan was also put under investigation in a process related to the case.

Under the Spanish judicial system, no formal charges can be brought until the first phase of investigation is over. Being under investigation does not necessarily mean there will be a formal indictment.