in News Departments > New & Noteworthy
print the content item

Spanish utility company Iberdrola has accepted the conditions set by the New York State Public Service Commission (PSC) in order for the company to acquire Energy East. The decision came following analysis of the conditions stipulated by the PSC.

The PSC authorization involves no limitation on Iberdrola's ability to develop wind power projects in New York. Regulatory approval had been previously obtained from all other federal and state authorities.

According to Iberdrola, the transaction has won broad support over recent months in the U.S. from consumer groups, unions and political leaders.

"This acquisition is one of the key elements of our 2008-10 strategic plan and gives us an important platform to develop our growth in a market the group has identified as key to its future development," says Iberdrola Chairman Ignacio Galan.

With the acquisition of Energy East, the utility's assets in the U.S. are worth $20 billion.

SOURCE: Iberdrola


Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015