Iberdrola has won a bid to manage the Aguieira and Raiva hydroelectric power stations in Portugal, with a combined capacity of 360MW. Iberdrola will be responsible for managing and marketing electricity generated at the two plants from April 1, 2009, until March 31, 2014.

The Aguieira and Ravia hydro plants, located in the Mondego river basin, have installed capacities of 336MW and 24MW, respectively. The Aguieira plant has a reversible pumping capacity of 270MW, representing 25% of all pumping capacity of this type in Portugal.

The company has recently presented its plans for hydroelectricity development in the Alto Tamega in Europe. The project involves four new dams to be built by the company between 2012 and 2018 with an installed capacity of 1,200MW, at a cost of E1.7 billion.

The new power stations, two pumping (900MW) and another two pure turbines (234MW), will generate around 2,000GWh a year, around 3% of total electricity consumption in Portugal and sufficient to meet the annual needs of approximately one million people.