Spain's Iberdrola Renovables is among a growing crop of EU companies leading the drive to develop renewable power projects and new technology. The company last week released a strong performance report for 2008, results that highlight how new legislation at the EU, national and local levels is working hand-in-glove with private sector companies' efforts to reshape power markets and industry across the 27-member bloc of nations.
Spain's Iberdrola Renovables is among a growing crop of EU companies leading the drive to develop renewable power projects and new technology. The company last week released a strong performance report for 2008, results that highlight how new legislation at the EU, national and local levels is working hand-in-glove with private sector companies' efforts to reshape power markets and industry across the 27-member bloc of nations.
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European companies have taken the lead when it comes to developing wind, solar and marine power projects and technology, not only within the EU, but increasingly in the US and other markets around the world.
Iberdrola is well set to take advantage of the renewable energy and clean technology incentives and support included in the US's latest economic stimulus package. It's already the second-largest operator of wind farms in the States. More than 40% of the projects it's looking to develop are located here. PPM Energy, its US energy subsidiary, commissioned the 223.6-megawatt Klondike III wind farm Oregon this past March. Another five wind farms capable of generating as much as 460-megawatts of electrical power came on-line in December alone.Â
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