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| Iberdrola says to invest 1,750 million euros between 2007 and 2009  Spanish energy giant Iberdrola plans to invest 1,750 million euros over the next three years in deregulated business, which includes generation and distribution of electrical energy and gas, as envisaged in the 2007- 2009 strategic plan. Iberdrola has slated 44% of these investments (770 million euros) for conventional generation projects, among which are a number of hydroelectric stations that will start up after 2009 with a total capacity of 1,650 megawatts (MW).A further 20% of the investment forecast by Iberdrola (350 million euros) will be for the start-up of combined cycle power stations. During 2007, the 800 MW Castellón 4 combined cycle plant will start up, enabling the company to increase capacity from these plants in Spain to 6,400 MW (5,600 MW owned). Iberdrola will assign another 19% of deregulated business investments (332.5 million euros) to starting up new cogeneration plants in Spain, with a potencial capacity of 670 MW. At the end of the third quarter of 2006, the company already had 387 MW operational from these plants. Lastly, 17% of the investments (297.5 million euros) will go to developing various generation projects in Europe, amounting to some 5,000 MW. Initiatives already taken in this area include combined cycles of 850 MW at Figueira da Foz, Portugal, and 2,000 MW in Ludwigsau and Lauchhammer in Germany, as well as market surveys carried out in France, the Netherlands and Belgium. Iberdrola's strategy for the coming years involves a new investment cycle, assigning 9 billion euros (+20% compared with the previous three-year period) to continue developing basic energy business both in Spain and abroad. In this regard, the company will invest nearly 5.6 billion euros, 62% of the total, to meeting Spain's energy needs. Remaining investments (over 3.4 billion euros) will be used to capture profitable business opportunities outside Spain, especially in Europe and the United States. write your comments about the article :: © 2007 Construction News :: home page |