Iberdrola’s renewable energy subsidiary says that the receipt of federal stimulus funds from the US government will allow it to bring forward the construction of five new wind farms.
The Spanish firm has so far received $577 million in US Treasury Department grants offered under the government’s renewable energy incentive package. It is currently building three wind farms with a combined capacity of 601 MW in the USA, and says that it has brought forward construction of a further five, with a combined capacity of 813 MW.
Iberdrola Renovables is now the second largest operator of wind farms in the USA and has made the country a key target market for its investment plans. In the last 12 months the firm increased its installed capacity in the USA by around 50 per cent, or 1141 MW, and 42 per cent of its current project pipeline is located there.
It is also expecting to receive a further $430 million in federal stimulus funds in 2010 as its wind farms come on stream, and says that it will reinvest all current and future grants in the US.
Iberdrola Renovables’ current installed wind capacity in the USA is 3459 MW. It is also the world’s largest wind farm operator, with an installed capacity at the end of September 2009 of 10 477 MW and an output of 15 052 GW/h.
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