Iberdrola has announced a strategic investment plan involving some EUR 18 billion in total to be invested over the period of two years, from 2010 to 2012. Of the total amount, EUR 9 billion is planned for renewable energy, while the the other half of the investment funding is to be used for networks (EUR 6.3 billion) and generation and supply (EUR 2.7 billion).
Broken down according to markets, the US market will receive about EUR 7 billion (39%), the UK market about EUR 4.5 billion (25%), Spain EUR 4.3 billion (24%), while Latin America and other markets will get about EUR 2.2 billion (12%).
Along with investment plans, the company plans to diversify further internationally. Iberdrola sees the investment plan as means to face the future with optimism, while at the same time offering a "valid option for driving economic growth and recovery".
The company's current strategic areas of focus are strengthening its position in the Atlantic Area (US, UK, Brazil), creating foundations for future growth in these areas. For example, Iberdrola has been awarded a development zone as part of Round 3 offshore development in the UK, one of the biggest ones, which will bring about 7.2 GW of new capacity to the company's portfolio. In the US, the company is taking advantage of the formidable development climate created by the US government, with more than 23.5 GW of capacity lined up for development. Along with wind energy projects, Iberdrola is also involved in major hydropower development around the world. In Spain alone, about 1 GW of hydropower capacity will come online by 2012, and in Brazil the company is also developing 1 GW of hydropower capacity through a dozen power station projects.
[source: Iberdrola]
Last week the Chilean government successfully closed the bidding process for geothermal energy development, awarding concessions for development totalling USD 106 million in investments. Both national and international companies were invited to participate in the bidding process for more than 700,000 hectares of land.
GE has received commitments for supplying wind turbines for more than 400 MW of new capacity to be developed in Brazil. This will be the first time GE wind energy technology is deployed in this South American country.
BP Solar has entered into an agreement with Jabil Circuit to assemble BP Solar modules for the North American market in Jabil's plant in Chihuahua, Mexico. The agreement calls for an initial capacity of 45 MW with the opportunity for expansion as demand increases. Production will begin in the second quarter.
Alstom announced the company has signed a memorandum of understanding (MoU) with the Government of Bahia, a state in Brazil, which states the company will open a wind turbine assembly facility there. The new facility, based in Bahia, will be able to output 300 MW of wind turbines annually. The facility represents an investment of about EUR 20 million. Operation of the new facility is planned to start in early 2011.
