The finance is part of a wider investment project totalling EUR 18B in the period 2010-2012 with a goal of pursuing organic growth and consolidating its international expansion, built on net earnings that last year surpassed €2.8 billion.
The company is building some of the largest hydro projects in the world, which will come on stream this decade. In Spain it will add 1050MW by 2012, expanding the La Muela, San Esteban and San Pedro plants. In Portugal it will build the Alto Támega complex, one of the largest under construction in Europe in the past 25 years. In Brazil, it is developing a number of power stations with a total capacity of 1000MW.
