Iberdrola

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Iberdrola

Type	S.A. (corporation)
Founded	1 November 1992
Headquarters	Bilbao (Basque Country), Spain
Industry	Electric
Products	Electricity, Telephone, Internet, Natural Gas, Security
Website	http://www.iberdrola.com

Iberdrola tower, in Bilbao (Basque Country), now under construction

Iberdrola, S.A., (BMAD: IBE) is one of the leading private electric utilities worldwide and the largest renewable energy operator in the world. Its services reach 16 million customers, over nine million in Spain. Its operations include generation, transmission, distribution and marketing of electricity and natural gas.

Iberdrola is a 100-year-old company based in Bilbao (Basque Country) devoted to the national and international energy sector. As of March 2006, it had an installed capacity of 3914 megawatts from renewable sources of which 3598 megawatts come from wind power.

In November 2006 Iberdrola made a bid to buy Scottish Power and this was completed in April 2007. The merger created the third largest utility in Europe, and generates around 6000 megawatts of renewable energy. Iberdrola is also Spain's largest nuclear energy producer. The price offered for Scottish Power by Iberdrola, which generates most of its energy from coal fired power stations and natural gas, is 40% higher than a bid a year earlier from E.ON of Germany.

Building of Iberdrola's new headquarters (Iberdrola Tower) in Bilbao started in 2007. The tower will be 165 m high and has been designed by architect Cesar Pelli.

Some 8% of the shares are owned by Grupo ACS.^[1]