Iberdrola buys wind farm project in Central Illinois
With the current long turnaround time to obtain turbines as a big factor for the viability of each project, Iberdrola brings to the table an access to a larger supply of turbines, as the world largest owner and operator of wind farms.
We must remember that Navitas Energy is a subsidiary of Gamesa, the second largest wind turbine manufacturer in the world, and that Iberdrola is Gamesa´s largest shareholder (25%).
Both companies signed a record-setting agreement in October of 2006 for a sale to Iberdrola worth more than $2.9 million for 2,700 megawatts (MW) in Gamesa wind power generators. It represented the largest sale of wind power equipment to date worldwide.
Another part of this agreement envisaged that Iberdrola would buy wind farm assets in the U.S. (Pennsylvania, Texas and Illinois) from Gamesa with as much as 1,000 MW of installed capacity to be implemented between 2007 and 2009.
This movement is part of the plans Iberdrola has to build more than 10,000 megawatts of renewable wind energy worldwide by the end of 2011.
Navitas has other four projects for wind farms in Illinois that are moving forward.
To see all the proposed wind farms in Illinois, click here.