Wind Wire: Spain - Homegrown giant slows down
Iberdrola Renovables put around 1.45GW of new wind capacity into service in 2009, but the figure marked a 34% drop on the developer's 2.2GW of new installed capacity the previous year. The company's preliminary results also reveal that 4.49TWh of additional production, reaching a total of 21.49TWh over the year - 97% from wind - marked an increase of just 26%, against a 71% increase in 2008. Even so, Iberdrola Renovables has not changed its previous forecast of reaching 12.5GW total installed capacity to end-2010. Furthermore, the company's consolidation of its position as the world's top renewables operator, now with 10.8GW online, all but 400MW of which is from wind, has kept the market's mood upbeat. Out of 42 analyst firms consulted following the announcement, 31 made a "buy" or similar recommendation, while seven firms made "hold" or "neutral" recommendations.