Iberdrola to Invest $6.1 Billion in U.K. Wind, Grids
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Iberdrola SA, Spain’s largest utility, will invest 4.8 billion euros ($6.1 billion) in the U.K. through 2012 to develop wind-energy parks and power grids.
The Bilbao-based power producer is also seeking to develop a carbon capture and storage project at the Longannet plant in Scotland, Iberdrola said today in a statement. The company on Feb. 24 said that gross investment from 2010 through 2012 may reach 18 billion euros and earmarked 25 percent, or 4.5 billion euros, to the U.K. at the time.