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| 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, 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.
Iberdrola bought Scottish Power in April 2007. The merger created the third largest utility in Europe, and generates around 6000 megawatts of renewable energy. 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. Iberdrola is also Spain's largest nuclear energy producer.
In September 2008, Iberdrola bought Energy East, a utilities company that serves 2.9 million customers in the Northeast United States.[1], following approval by the New York Public Service Commission.[2]
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.[3]
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