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May 10, 2008 – Vol.13 No.7 Iberdrola Renewables to Purchase 300 MW of Wind Turbine Capacity from General Electric. Under the terms of the contract the company will acquire 200, 1.5 MW turbines for delivery in 2010 to Iberdrola’s wind farms in the United States. The value of the order is approximately EUR 430 million ($668 million). With this contract, Iberdrola Renewables completes its turbine supply program for its wind power program in the US, as laid out in the company’s 2008-10 Strategic Plan thus avoiding one of the principal uncertainties in this business: the availability of turbines. The turbine capacity purchase from General Electric follows the previous purchase of 300 MW from Mitsubishi scheduled for delivery in 2010 in the US, an acquisition in 2007 from Suzlon Wind Energy Corporation for 700 MW, for delivery between 2008-2009 and a contract with Gamesa for the supply of 2,700 MW in turbine capacity for delivery between 2007 and 2009.
Iberdrola Renewables is the second largest wind power company by installed capacity in the US with 2,392 MW in installed capacity there at the end of the first quarter of 2008. In the project pipeline for the US the company has 22,138 MW – more than half the total pipeline – in the United States The company’s total global portfolio of renewable energy capacity was 8,164 MW at the end of the first quarter of 2008, (an increase of 80 percent compared to the 4,552 MW at the same period last year.) Of this total, 7,822 MW is wind and 342 MW is mini hydro. (5/10/08)
Links: Iberdrola Renewables
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes
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