The power utility is weighing option to sell stake in its Scottish Power subsidiary’s regulated business, according to The Financial Times.

The company, which intends to sell its wind farms in Poland, has been offloading non-core assets since 2008 as it seeks to cut down a debt pile of €29.3bn as of June 2012.

Iberdrola executive chairman Ignacio Galán said he will concentrate on cutting down net debt through a strategy of capital expenditure reduction, cost-cutting and asset sales.

The utility has plans to invest £12bn in the UK in the next decade, with two-thirds going to its electricity networks business.

This week Galán met UK chancellor George Osborne to discuss his company’s investments in the British energy sector.