Iberdrola to complete a 500 MW wind farm in Granada
Iberdrola will expand its current 198 MW wind farm (El Marquesado) in Granada, Spain, to reach an installed capacity of 500 MW. That will bring the total investment in the area to around 380 million euros. This wind farm is already one of the largest in Europe and with the expansion will be among the largest in the world. A local manufacturer, Eozen, is expected to provide a significant share of the wind turbines for the project.
Wind turbine from Eozen – Photo courtesy of Eozen
Iberdrola has been getting headlines every week this last month. Yesterday, it announced at its annual shareholders´meeting that its first-quarter net profit reached 1.2 billion euros ($1.9 billion), up 162 percent year-on-year thanks to new acquisitions and asset sales. Iberdrola Renovables, its renewable energy arm, saw first-quarter profit exceed earnings for the whole of 2007. But there have been many other interesting stories from Iberdrola lately, and not all of them concerning its efforts to fend off an unwelcome possible takeover bid from the French group EDF.
Earlier this month, analysts from Expansion, a Spanish newspaper, commented that the company is mulling over purchasing the assets Babcock & Brown has put up for sale, 3,000 megawatts of wind power in Europe. It has pulled back, though, from the other bidding war unfolding in the busy European electricity sector, the one for British Energy.
Other recent news from Iberdrola include its plans to develop six offshore wind farms with an aggregate generation capacity of 3,000MW at locations off the coasts of the Spanish Atlantic provinces of Cadiz and Huelva and the Mediterranean province of Castellon.
Finally, this time in the field of solar energy, its engineering division, Iberinco, has won a contract to build the second of two phases of a 20 MW solar photovoltaic plant, Apertura FV, in the Spanish province of Cáceres.