World’s Biggest Producer of Wind Energy Records $4 Billion in Profits in 2010

[Fledermaus]

Iberdrola SA’s 2010 profit rose more than analysts expected as it generated more electricity with hydropower plants and wind turbines.

Net income for the world’s biggest producer of wind energy rose 1.6 percent to 2.87 billion euros ($4 billion) compared with analysts’ estimates of 2.84 billion euros, the Bilbao, Spain-based company said. Earnings before interest, tax, depreciation and amortization rose 11 percent to 7.5 billion euros.


Spain’s largest utility generates more than half its power outside the country after expanding abroad to cut reliance on the domestic market, where demand fell in 2009 and regulators let it recoup only a portion of costs. Iberdrola is trying to sell more assets after buying U.S. utility Energy East Corp. in 2008 and Scottish Power Ltd. in 2007.

Carbon-Free Generation
Iberdrola has targeted average annual growth of 5 percent to 9 percent in Ebitda from 2009 through 2012. Electricity production rose 8 percent to 154,073 gigawatt hours. Half of that power was made without emitting carbon dioxide, the company said in a press release. Hydropower output increased 85 percent, while wind turbines generated 18 percent more electricity.

http://www.bloomberg.com/news/2011-02-24/iberdrola-2010-profit-rises-to-4-billion-euros-on-higher-power-output.html