Iberdrola Renovables announced the company has been awarded more funding from the US government, bringing the total amount of funding awarded to the company so far to USD 976 million. The awarded funding is part of the US government's strategy to provide incentives for companies to invest and build projects in the United States. This financial boost will significantly help Iberdrola's strategic plans to install about 1000 MW of wind capacity in the US in 2011 and 2012. The company has expressed reassurances it will invest the awarded funding into new renewable energy projects in the country.

The grants have been awarded in tranches, the latest being a USD 109 million injection for the company's 202 MW Peñascal II wind farm, part of the Peñascal wind complex, located in Kenedy County in Texas, USA. The complex has a total of 404 MW of capacity, and is the largest wind energy facility operated by Iberdrola in the world, featuring 168 Mitsubishi MHI 92 2.4 MW wind turbines. Power generated at the wind farm complex is enough to supply about 150,000 average US homes with clean electricity.

[source: Iberdrola]