Iberdrola Buys its First Gas Powered Combined Cycle Plant in U.S.
Iberdrola through PPM, the North American subsidiary of Scottish Power, has reached an initial agreement to buy a combined cycle power plant in Oregon. If the deal goes through, this will be the Spanish company’s first plant to use combined cycle technology to produce electricity by burning natural gas.
Iberdrola already owns wind parks and gas storage facilities (through PPM), and with the upcoming takeover of Energy East, it will acquire coal plants and gas and power distribution networks that reach 3 million customers.
According to industry insiders, the deal to buy the combined-cycle natural gas power plant in Klamath County, Oregon is worth some €120 million (around $160 million). A spokesperson from Iberdrola said the company has reached an initial agreement to purchase the plant from Klamath County for an undisclosed amount.
The 506 MW plant was built in Klamath in 2001 and supplies power to Oregon and California, among other states.