Key Developments: Iberdrola SA (IBE.MC)

IBE.MC on Madrid SE C.A.T.S.

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Latest Key Developments (Source: Significant Developments)

Iberdrola SA hires JPMorgan for asset sale to fund U.S. buy-Reuters
Monday, 6 Oct 2014 08:05am EDT 

Iberdrola SA:Spanish power firm Iberdrola has hired JPMorgan Chase & Co to sell some foreign renewable assets which could raise up to 2 billion euros to help fund an acquisition in the fast-growing U.S. market, three sources with knowledge of the matter said-Reuters.  Full Article

Iberdrola to partially subscribe to Gamesa capital hike-Reuters
Monday, 8 Sep 2014 01:06pm EDT 

Iberdrola SA:Iberdrola said it plans to partially subscribe to capital hike by Gamesa-Reuters.Gamesa said it had agreed to issue some 25.4 million new shares, or equivalent of 9.99 percent of group's capital, in accelerated book-building process.Iberdrola currently holds 19.617 percent of Gamesa's shares.  Full Article

Iberdrola Ingenieria and Elecnor Deimos to undertake project SUMO in partnership with ESA
Wednesday, 3 Sep 2014 08:00pm EDT 

Iberdrola SA:Iberdrola Ingenieria and Elecnor Deimos by way of their respective UK subsidiaries, have launched project SUMO (Support of Maritime Operations in Offshore Windfarms), initiative aimed at creating system for offshore wind farm management.Initiative to be undertaken with support of UK's Technology Strategy Board (TSB) and European Space Agency (ESA).SUMO system is expected to address entire offshore wind farm development process as it will be possible to use system while facilities are being constructed as well as in their subsequent operation and maintenance.Project to integrate diagnostic and ocean weather forecasting tools, using products and services developed within aerospace industry.These applications include use of high-resolution satellite imagery and methods for geo-locating people and objects.In addition, Iberdrola Ingenieria is to develop new ocean weather forecasting module comprising tools for high-resolution, numerical atmosphere, ocean and wave simulation.  Full Article

Iberdrola to build 69 MW dersalloch wind farm in Scotland
Tuesday, 19 Aug 2014 08:00pm EDT 

Iberdrola SA:Iberdrola, through its UK subsidiary ScottishPower Renewables, has received consent from Scottish Government for 23 wind turbines at Dersalloch Hill in South Ayrshire, with nominal capacity of up to 69 MW.Wind farm site is located to the east of Staiton, in Scotland.  Full Article

Iberdrola starts work on construction of 66 MW Pier II wind farm in Mexico; to carry out project with local partner
Monday, 11 Aug 2014 08:00pm EDT 

Iberdrola SA:Starts construction work for Pier II wind farm, with installed capacity of 66 megawatts (MW), in Mexico.Pier II will be located in municipality of Esperanza.It will be equipped with 33 Gamesa G97 wind turbines, each with a unit capacity of 2 MW.Wind farm will be located in Puebla state in south of country.Developing this new infrastructure will require investment of some $120 million.By the time it is connected to grid, it will be able to supply renewable energy to 25,000 Mexican households.IBERDROLA will be carrying out this project along with local partner, Mexican firm Impulsora Latinoamericana de Energias (ILER).  Full Article

Iberdrola SA sells 25 percent stake in Bahia Bizkaia Electricidad for 111 million euros-Reuters
Wednesday, 30 Jul 2014 06:47am EDT 

Iberdrola SA:Announces that the company has reached an agreement to sell its 25 percent stake in Bahia Bizkaia Electricidad (BBE) to BP for 111 million euros ($148.72 million)-Reuters.BP already owned a 50 percent stake in BBE, a power plant located in northern Spain.  Full Article

Iberdrola updates on script dividend
Thursday, 17 Jul 2014 08:00pm EDT 

Iberdrola SA:Trading period for free-of-charge allocation rights corresponding to capital increase ended on July 17.Holders of 3,012,527,967 free-of-charge allocation rights entitled to accept irrevocable commitment to purchase rights assumed by Iberdrola have done so.Iberdrola has acquired such rights in total gross amount of 343,428,188.24 euros.Iberdrola has waived the free-of-charge allocation rights acquired pursuant to above and, therefore, new shares corresponding to such rights.Definitive number of ordinary shares with unitary par value of 0.75 euros that will be issued in capital increase is 67,239,000, with nominal amount of capital increase being 50,429,250 euros.It is expected that new shares will be admitted to trading on Bilbao, Madrid, Barcelona and Valencia Stock Exchanges, through Automated Quotation System (Electronic Market), on July 24.Ordinary trading of new shares is expected to commence on July 25.  Full Article

Iberdrola Ingenieria completes first renewable energies project in South Africa
Monday, 14 Jul 2014 08:00pm EDT 

Iberdrola SA:Says Iberdrola Ingenieria has completed development of its first renewable energies project in South Africa.Project consists of construction of three facilities: Noblesfontein and Klipheuwel wind farms and Jasper photovoltaic power plant.Contracts worth 273 million euros.Two wind farms and photovoltaic power plant built by subsidiary of Iberdrola in consortium with South African firm Group Five have combined capacity of 200 megawatts (MW).Two wind power projects located in Western Cape and Northern Cape provinces were built on turnkey basis.Noblesfontein facility has capacity of 74 MW.It was awarded in contract worth 112 million euros by consortium formed by Spanish firm Gestamp Wind and two South African partners: Shanduka and Sarge.This facility consists of 41 wind turbines with unit capacity of 1.8 MW (Vestas V100 model), as well as substation and power line needed to upload energy to grid.Klipheuwel wind farm awarded by South African firm Biotherm Energy and valued at 40 million euros has capacity of 27 MW and is located close to Caledon.  Full Article

Iberdrola Ingenieria and Gamesa to build 50 MW San Marcos wind farm in Honduras
Tuesday, 8 Jul 2014 08:00pm EDT 

Iberdrola SA:Iberdrola Ingenieria Gamesa have entered into agreement with Honduras-based Grupo Terra to build San Marcos wind farm in turnkey project.Transaction value 62 million euros.Wind power facility to have capacity of 50 megawatts (MW).Farm to be located in municipality of San Marcos de Colon, 140 km south of Honduran capital Tegucigalpa and close to border with Nicaragua.Iberdrola subsidiary to be in charge of engineering, procurement, construction and start-up of wind farm.Iberdrola Ingenieria to build electrical substation and 40 km power line for uploading energy to grid.Gamesa to be in charge of supplying turbines for this wind power facility.Gamesa to deliver 25 G90 model wind turbines with unit power of 2 MW each, with hub height of 78 m and rotor diameter of 90 m.  Full Article

Iberdrola enters into concession agreement for Alto Tamega hydroelectric complex
Thursday, 3 Jul 2014 08:00pm EDT 

Iberdrola SA:Enters into concession agreement with Portuguese State, represented by Agencia Portuguesa do Ambiente.Says under agreement company to have right to build and exploit 1,158 MW Alto Tamega hydroelectric complex.Project comprises hydroelectric infrastructures of Gouvaes, Alto Tamega and Daivoes.Company was awarded project in 2008.Project to be built in various stages, and to be completed in maximum of nine years.Works are expected to begin in first quarter of 2015.Heaviest investment to take place from 2018 to 2020.Budget of project is 1,200 million euros.  Full Article

Scottish Power faces sales ban unless improves customer service

LONDON, Nov 14 - One of Britain's "big six" energy suppliers, Iberdrola-owned Scottish Power, could face a selling ban if it doesn't improve certain customer services, including cutting helpline waiting times, the energy regulator said on Friday.

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