Spain's Iberdrola slows the pace of wind power development

Spanish utility Iberdrola has installed just 100 MW of new wind capacity in the first nine months of the year, but says it has another 500 MW to come before the end of the year. Even so, the utility's performance is down on 2004's record boost to its wind portfolio of 905 MW, including acqussitions. Despite the slow down, Iberdrola still claims the title of world leader, laying claim to an end-year total of 2988 MW. Iberdrola maintains its target for 5500 MW of wind power by 2008, 1000 MW of which will be outside Spain. The company is using its wind business to leverage it into other markets, having earlier announced the opening of wind development offices in France, Germany, Italy, Poland and the UK. It is building a 50 MW project in Brazil and four in France totalling 32 MW. Other overseas wind assets acquired this year are project rights totalling 332 MW across France and Italy, bought from developer P&T and rights to 161 MW in Poland and 201 MW in France and Germany from utility MVV Energie.