Iberdrola

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Iberdrola

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

Iberdrola, S.A., (IBEX-35: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 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 company Scottish Power, Upon completion, if successful, the merger will create the third largest utility in Europe, and will generate around 6000 Megawats 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 nuclear power stations and natural gas, is 40 percent higher than a bid a year earlier from Germany´s E.ON.

Building of Iberdrola's new headquarters in Bilbao will start in 2007, the tower will be 165 meters high and has been designed by architect Cesar Pelli.

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