Spanish Company Iberdrola To Invest $400 Million Dollars in Mexico

Iberdrola to invest 400 million dollars in Mexico
Business - Tuesday, December 7, 2010 (15:14 hrs)




The measure is part of the company's strategic plan for 2011 and 2012



The online Financial

Madrid, Dec. 7 .- The Spanish power company Iberdrola plans to invest 400 million dollars in Mexico between 2011 and 2012, said Tuesday the energy group at a meeting in Cancun of its CEO, Ignacio Galán, and Mexican President , Felipe Calderón.

These investments are part of Iberdrola's strategic plan until 2012, which seeks greater internationalization of their business, which will involve investments in Latin America of 1,700 million dollars during the period 2010-2012, said Tuesday in a press release.

Iberdrola has about 770 employees in Mexico, where it has an installed capacity of over 5,000 megawatts (MW), mainly in combined cycle gas.

Renewable energy, it will go much of the group's growth in Mexico through its subsidiary Iberdrola Renovables, has 80 MW operating wind farms and is building another park of 103 MW. (With information from Reuters / MCH)

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