Spanish utility Iberdrola announces 4500 MW renewables target for 2008

Utility Iberdrola has announced a 4500 MW renewables target for 2008, the vast bulk coming from wind power. The announcement follows strong performance over the first three terms of 2004, during which the utility says it has installed 502 MW of new wind capacity. By September this year, Iberdrola operated 2777 MW of renewables -- 275 MW from small hydro, the remaining 2502 MW from wind. Iberdrola says it will close the year operating wind power plant with a combined capacity of 2800 MW, but does not say where the extra 300 MW will come from. By September, the utility was building just 58 MW of new wind projects. The company does not comment on whether it expects the remaining 240 MW to come from a wind plant auction planned by developer Gamesa. Iberdrola's earlier renewables target -- announced in 2002 -- was to operate 3834 MW by 2006, 3534 MW from wind.