in News Departments > FYI
print the content item

Iberdrola, an owner and operator of renewable energy projects, has signed a contract acquiring 100% of MREC Partners and Midwest Renewable Energy Projects, Joice, Iowa-based developers of wind energy projects, to further expand into the U.S. wind energy market.

Iberdrola plans on investing about $ 2 billion to develop the project portfolio of both companies, which amounts to 1,600 MW of wind power located in various parts of the Midwest. Of this figure, 400 MW are in an advanced development stage and 1,200 MW are in the initial study stages, the company says.

This acquisition, which was for over 30 million euros, helps Iberdrola reach its goal of exceeding 10,000 MW of renewable energy by the year 2011. To reach this goal, Iberdrola plans on achieving 7,000 MW of installed renewable power by 2009 and 10,000 MW by 2011 through international expansion.



Trachte Inc._id1770
Latest Top Stories

Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.

Hybrid Energy Innovations 2015
Canwea_id1984
Renewable NRG_id1934