Pope Leo XIV received Iberdrola chairman Ignacio Sanchez Galan and chief executive Pedro Azagra in a Vatican audience on Friday to mark the Spanish energy group's 125th anniversary.
The audience was listed in the daily information bulletin of the Holy See. Company sources confirmed to Spanish news agency EFE that the visit forms part of corporate celebrations held this year under the anniversary motto 125 light years.
During the meeting, Sanchez Galan and Azagra outlined the company's international footprint and global expansion to the pontiff. Consulted sources said the executives also discussed economic electrification processes and highlighted Iberdrola's commitment to environmental sustainability.
Corporate history and market standing
Iberdrola was founded in 1901 under the original name Hidroelectrica Iberica. Over the course of 125 years, the company has grown from its origins in northern Spain into a global energy supplier with operations across Europe, the Americas, and Asia.
The firm is currently considered the largest electric utility in Europe by market capitalisation, as well as one of the two largest power companies in the world by market value. Headquartered in Bilbao, Spain, the group specializes in electricity generation, distribution, and renewable energy infrastructure.
Presentation of historical economic treatise
As part of the audience, Sanchez Galan presented Pope Leo XIV with a special edition copy of the historical economic treatise Deals and Contracts of Merchants and Traders (Tratos y contratos de mercaderes y tratantes).
The book was written in the 16th century by Spanish Dominican economist and philosopher Tomas de Mercado. The volume gifted to the pontiff is a special edition published by the University of Salamanca, where Sanchez Galan serves as chairman of the university's Social Council.
Tomas de Mercado was a prominent figure in the School of Salamanca, a group of Renaissance scholars who developed early theories on ethical commerce, price formation, and currency exchange. Founded in 1218, the University of Salamanca is the oldest university in Spain and one of the historic centers of academic study in Europe.
Vatican business engagements
The Vatican regularly receives international corporate executives, heads of state, and civil society leaders to discuss issues related to economic development, environmental protection, and social welfare. The Holy See serves as the episcopal jurisdiction and central governing body of the Catholic Church from Vatican City in Rome.
