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Flurry of international activity from Spain's Iberdrola

In a flurry of activity, Spanish utility Iberdrola is fast strengthening its grip on the international wind market. Apart from revealing a 250 MW project portfolio in Latin America (page 20), the utility has also announced the opening of new offices in three European cities: Rome, Birmingham in the UK and Rennes in France. Iberdrola has also boosted its share in Rokas, Greece's dominant wind developer, from 21% to 24%. The overall objective "is to reach an installed wind capacity target of 5500 MW by 2008, 1000 MW of which will be outside Spain. Today it owns around 3000 MW of operating wind plant, nearly all of it in Spain, making it a world wind leader together with American FPL Energy, which owns a similar volume in the US. The two companies dominate global wind plant ownership, each with more than three times the capacity of third place player EHN Acciona, according to market research company Emerging Energy Research. Iberdrola's foreign objectives look well within reach. It has already signed to buy 250 MW in Portugal from Spain's Gamesa. The deal involved an agreement committing Iberdrola and Gamesa to jointly develop their combined project portfolios for Portugal, which total 1500 MW. Furthermore, Iberdrola intends to act on an option to up its stake in Rokas to 49.9%. Rokas aims to boost its current 200 MW online in Greece to 600 MW by 2008. Iberdrola says it also expects to install 130 MW in France and 100 MW in Italy over the next two or three years and is considering options to enter the German and Polish markets.

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