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

Utility-Scale Wind And Solar Keep Getting Cheaper

A new study measures the levelized cost of energy from various technologies and suggests that the costs of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.


Why States Should Adopt A Renewable Portfolio Standard

A new study analyzes the potential benefits of state renewable energy mandates, as well as recommends what such policies should include.


Sen. Reid Vows To Bring Wind PTC To A Vote By Year's End

Nevada's senior senator provides some encouragement to wind industry advocates during his annual Clean Energy Summit.


Steadily, Wind Turbine OEMs Resume R&D Investment

An increased commitment to research and development will likely lead to wind energy innovation - not to mention a likely increase in patent-protected technology.

Renewable NRG_id1934
Canwea_id1984
Future Energy_id2008
UnitedEquip_id1995