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Viernes, 22 de noviembre de 2024

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Iberdrola purchases two American wind power developers

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Iberdrola has announced the acquisition of 100% of MREC Partners and Midwest Renewable Energy Projects, two American wind power developers. The deal amounts to more than 30 million euros. The utility plans to invest 2 billion dollars in the development of projects belonging to both firms, which total 1,600 MW. The deal is subject to the approval by the American authorities The acquisition of these two firms “allows to reinforce Iberdrola's expansion into the American wind industry", said the firm in a press release. Last May, Iberdrola acquired another developer, Community Energ&Mac249;, with 2,200 MW in development, “out of which some 200 MW are in an advanced stage of development”, said Iberdrola. The new agreement comes after a 1,000 MW deal in USA by Gamesa, partially owned by Iberdrola.

The recently acquired 1,600 MW portfolio includes many wind power projects in numerous areas of the American MidWest, where both MREC and Midwest Renewable Energy have their headquarters, namely in the city of Joice (Iowa). According to Iberdrola, “400 MW are in advanced stage of development, and 1,200 MW are in the initial study phases, and will quite likely be approved”.

In the current scenario, in which wind turbine production lags well behind demand levels, Iberdrola has covered a good share of its needs through a contract signed in mid October with Gamesa Eólica. With the agreement, Gamesa is committed to supply some 2,700 MW of wind turbines until 2009 for Iberdrola's projects in Europe, United States and Mexico.

Iberdrola aims to reach 7,000 MW of total installed capacity by 2009 and up to 10,000 MW the following year. “International expansion will be key to achieve it", said the utility.

In this sense, Iberdrola has pushed forward its wind business during 2006, beginning with the purchase of French Perfect Wind, with a portfolio of 600 MW. Later, Iberdrola sealed a deal in China with Bayannaoer City Council, aimed at finding locations to install 1,000 MW of wind power. Later, the utility purchased its first two windparks in the UK.

Iberdrola has offices in Birmingham (UK), Rennes and París (France), Rome (Italy), Berlin (Germany), Warsaw (Poland) and United States, which add up to the ones that the firm formerly had in Greece, Portugal, Mexico and Brazil.

For additional information:
www.iberdrola.es
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