The company’s strategic plan calls for investing E8.6 billion in the 2008-10 period to bring 2,000MW of new renewables capacity on stream each year, yielding a total of 13,600MW at the end of the period. Additionally, the firm has 1,370MW under construction.
More than half of the new capacity of the Iberdrola utility group’s renewables unit is to be built in the US, with 21,991MW of wind power capacity. Spain accounts for 17% with 6,397MW from wind farms and 809MW from other renewables such as biomass and solar power. The UK accounts for 13% with 5,412MW from wind farms, and the rest of the world for 18% with 7,346MW from wind power and 98MW from other renewable sources.
In 2007 Iberdrola Renovables achieved a total renewable energy generation capacity of 7,704MW, representing a 74% increase for the year. Wind power accounted for 7,362MW, and mini-hydro plants for the remaining 342MW.
