Iberdrola Renewables Strengthens its Presence in France

Aug. 14, 2008 - PRLog -- Iberdrola Renewables has strengthened its presence in France by commencing the construction of four wind farms in the northeast of the country.

In all, the four new farms would cumulatively contribute a total of 30 megawatts (MW) of power. The company, through its subsidiary Iberdrola Renewables France, has 166 MW of installed power distributed over 15 wind farms.

Specifically, the company has begun the works at the wind farms of Brissy (6 MW in capacity, distributed over three Gamesa G90 wind turbines); Sery (8 MW over four G90 wind turbines); Ribemont (10 MW over five G90 wind turbines), and Villers le Sec (6 MW over three G87 wind turbines).

Iberdrola Renewables has set an objective of installing 2,000 MW during the current year. As per its  Strategic Plan 2008-2012, the company has marked an investment worth €18,800 million in this period in order to reach a net profit of approximately €1,000 million in 2012.

The investment planned for in this plan will be fundamentally set aside for international expansion, which will receive three quarters of the total. Half of the investment effort will be set aside for the United States (50 percent), while 23 percent will be for Spain, 25 percent for the rest of Europe and two percent for other countries.

The company hopes to reach a renewable power of 13,500 MW in 2010 and 18,000 MW in 2012 (the company clarified that this does not include 606 MW owned by a third party under contract of sale of energy).

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