Wind industry giant invests in U.S.

[boise1]

Iberdrola buying U.S. company, looking at China project

Reuters
Updated: 2:02 p.m. ET May 3, 2006

MADRID - Spain’s Iberdrola, the largest renewable energy operator in the world, has signed deals to buy a U.S. wind power company for $30 million and to study setting up a new wind farm in northern China as it expands abroad to meet its targets.

Iberdrola said on Tuesday it would buy Pennsylvania-based Community Energy, which has projects to develop 2,200 megawatts of wind-power capacity along the east coast of the United States -- which it described as one of its most important markets.

About 200 MW of the capacity are in advanced stages of development while the other 2,000 MW are in preliminary stages and are likely to be approved, Iberdrola said.

The focus is to further internationalize ourselves, without poor acquisitions. A bad hunter can become the hunted,” Chief Executive and Chairman Ignacio Sanchez Galan said in an interview in Tuesday’s El Pais newspaper.

http://www.msnbc.msn.com/id/12613761/from/RS.1/

[Rabbit of Caerbannog]

1. I know the folks at

Community and they're pretty excited because of the growth potential/being in the "big league" now...