|
|
|
|
National Tree Day Planet Ark Home
|
|
|
||
|
Spain's Iberdrola in wind asset swap with partners |
||
|
Mail this story to a friend | Printer friendly version
|
||
| SPAIN: November 18, 2002 | ||
|
MADRID - Spanish utility Iberdrola said last week it agreed to swap assets with three partners in a deal that would more than double its wind power capacity and generate 130.1 million euros in new revenue.
|
||
|
Iberdrola and its partners in a renewable energy venture - Sodena, Cementos Portland and Caja Navarra - will split up and reassign assets. Iberdrola, Spain's second largest electric company, will end up with projects in the Spanish regions of Castille-La Mancha and Murcia while the other partners will form a new company to take over assets in Navarre and Valencia. The deal will provide Iberdrola with an additional 1,173 megawatts of generating capacity, increasing its wind power capacity to 1,909 MW and putting it on target to meet its goal of having 3,834 MW of renewable energy generation by 2006. The swap and its side agreements will result in 130.9 million in additional revenues, the company said in a statement without saying when those revenues would be realised.
|
||
|
REUTERS NEWS SERVICE
|
||
|
