http://www.newenergyworldnetwork.com/investor-news/renewable-energy-news/by-technology/solar/iberdrola-grows-renewables-capacity-by-9-in-2011.html

 

Spanish utility Iberdrola increased its renewable energy capacity by 9.2 per cent to more than 13.6GW across 2011, its latest financial results show.

 

It said EBITDA from its renewables division remained reasonably constant at €1.45bn and has a portfolio of 579MW of clean power projects under construction.

Of the more than 1,100 MW installed in 2011, more than 84 per cent was outside Spain, highlighting the company's strategy to move outside its home market. Iberdrola now has 57 per cent of all renewable energy projects internationally.

The figures were released as the company said it was experiencing a difficult economic environment and would have to make writedowns of €402m over the course of 2011.