Spanish utility to invest $8 billion in U.S. Iberdrola sees potential in U.S. market for wind power By MarketWatch Last update: 2:26 a.m. EDT May 19, 2008Print E-mail RSS Disable Live Quotes Fixes the story to reflect that Iberdrola is publicly traded. WASHINGTON (MarketWatch) -- Iberdrola said Sunday it plans to invest $8 billion in the U.S. over the next three years in renewable energy such as wind power, marking the Spanish utility's latest effort to increase its presence in the American market. The company has been expanding aggressively in alternative energies and sees the U.S., with its huge appetite for power and big swaths of flat, windy terrain, as one of the most promising markets. Iberdrola (ES:0144580Y1: news, chart, profile) is the world's largest developer of wind farms and it already owns wind farms in New York state, California and Oregon, with construction underway in several other states in the Plains and Great Lakes. The company said it wants to obtain about a 15% share of the U.S. market for wind power by 2010. Although wind power contributes only a tiny portion of the electricity generated each year in the U.S., the percentage is growing as oil prices rise and companies search for cheaper and cleaner alternative sources of energy. In some places, however, residents have objected to the presence of tall wind turbines, though experts say there are plenty of places where the turbines can be installed far from populous areas.
Community
1 Recommendation
Recommend this story
Tags (Report abuse)(Reported)
Add Tags More » 7 Comments (View all)
We are already a debtor nation, now apparently we will become a tenant nation as well.
- jokesonthecountry
Add Comment Companies in this story Iberdrola Sa (ES:0144580Y1)
Add to Portfolio Create Alert Related MarketWatch news Monday's biggest gaining and declining stocks Programming execs cope with fragmentation How to keep retirement plans on track when stocks derail
Yahoo! Buzz(7) - View Comments on this storyTop stories 6:40 AM today Dollar lower in trading lull; Aussie currency at 24-year high 9:09 AM today Electronic Arts extends its offer for Take-Two 10:16 AM 5/18/08 More awful housing and inflation data expected this week
Comments There are 7 comments Page << < | 1 | > >> (oldest to newest) jokesonthecountry 17 hours ago +2 Votes (3 Up / 1 Dn) | Report Abuse SentWe are already a debtor nation, now apparently we will become a tenant nation as well. Reply to jokesonthecountry | Track Replies Reply to jokesonthecountry | Track Replies axiosaj 12 hours ago Even (1 Up / 1 Dn) | Report Abuse SentTHIS INTEREST IN ALTERNATIVE ENERGY SOURCES IS LONG OVERDUE BUT IT IS DISGRACEFUL THAT A FOREIGN COMPANY HAS TO BE IN THE FOREFRONT OF PLANNING TO ACCELERATE DEVELOPMENT OF THIS VITAL RESOURCEWHILE SLEEPING U.S. FIRMS CONTINUE TO fall so disgracefully far behind
DiabloRojo 11 hours ago -1 Vote (0 Up / 1 Dn) | Report Abuse SentCheck out FPL Group (FPL) if you want a US company in the same business as Iberdrola. Reply to DiabloRojo | Track Replies Reply to DiabloRojo | Track Replies dow20000 9 hours ago -1 Vote (0 Up / 1 Dn) | Report Abuse SentI wouldn't call 15% of less than 1% exactly in the "forefront". Check out T Boone Pickens new company--its putting $20 billion into Wind over next 10 yrs--and that's just one US business. Reply to dow20000 | Track Replies Reply to dow20000 | Track Replies Reply to axiosaj | Track Replies chutnerd 5 hours ago +1 Vote (1 Up / 0 Dn) | Report Abuse SentHigh Altitude Wind "Farms" will be much more efficient because of stronger and more persistent winds. Wind power is proportional to the cube of the velocity. There are at least four companies in the USA who claim to be developing a means of converting this "free" natural renewable power resource to low cost electricity. Links to some of them
http://www.magenn.com/technology.php Reply to chutnerd | Track Replies Reply to chutnerd | Track Replies BaxterStockman 1 hour ago | Report Abuse SentThis year I sold AWNE at a 13% gain, only to watch it increase another 80% after I sold. Now it's back to my selling price, as takeover talks commence, but it seemed like a viable, if small, $20M Canadian-based wind power provider. Reply to BaxterStockman | Track Replies Reply to BaxterStockman | Track Replies fromEurope 16 minutes ago | Report Abuse SentIBERDROLA RENOVABLES is the renewable-energy branch company of IBERDROLA.
This industry is a real hit in Europe (Germany and Spain as the leaders), and it is knocking on the cheap-and-green NEW energy world. In 20 years we won´t be able to afford burnig oil at 300 USD and polluting the air until sea-flooding coastal areas. Reply to fromEurope | Track Replies Reply to fromEurope | Track Replies Page << < | 1 | > >> Please sign in to comment
News 
Market Data 
Discover 
