Iberdrola Renovables announced plans to invest EUR 9 billion over the next three years in order to boost its global leadership position and expand international operations, focusing on profitable markets worldwide. Most of the company's growth is to come mainly from the US market, where the company will be investing EUR 4.9 billion, while other investments include EUR 1.9 billion in the UK, EUR 1 billion in Spain, and the remaining EUR 1.2 billion for investments in other parts of the world.

Iberdrola Renovables wants to accumulate about 16 GW of installed capacity by 2012, projecting a 15-20% earnings rise rate in this period. Investment and expansion efforts are going to happen in these key areas of the company's operations:

• United States: the company wants to expand operations and increase installed capacity in eastern and south-eastern states.
• Offshore wind: the company has a formidanle pipeline of projects in Europe – one of which is the Round 3 development in the UK, the 7.2 GW offshore wind farm off the east coast of England.
• R&D&i: the company is going to be making further commitments towards researching new technologies and improving operating efficiency. One of the major projects will be renewables integration into power grids, improving tidal, biomass and marine energy operations.
• Financial strength: maintaining financial foundations, improving efficiency, adapting investments to the economic environment, reducing the cost per MW installed.
• Sustainability: a sustainable growth plan, which will create value for all the stakeholders.

[source: Iberdrola]