IBERDROLA Renewables (formerly PPM Energy) is a real power player in the energy industry. Part of IBERDROLA's global network, IBERDROLA Renewables develops cogeneration power plants and wind farms; it has wind power generating capacity of about 4,800 MW in operation (at more than 40 wind farms) and more than 23,000 MW under construction or in the product pipeline, in more than 20 states, primarily in the Midwest and western US. IBERDROLA Renewables also offers solar power projects, biomass cogeneration projetcs, natural gas transmission, storage, and marketing, and risk and asset management services. The company's customers include utilities, industrial companies, and other energy marketers.
A leading US wind power operator (and a unit of the world's top wind power producer IBERDROLA), in 2010 IBERDROLA Renewables also operated more than 621 MW of gas-fired generation and more than 129 billion cu. ft. of natural gas storage.
The parent company is investing heavily in the wind power market in the US to drive its growth. It is taking advantage of US utilities' need to include more sources of renewable energy in their future power mix in order to meet EPA regulations, as well as the availability of green energy funds from the US Government. In 2009 IBERDROLA Renewables brought more 1,240 MW of commercial wind energy installations onstream during 2009, taking advantage of $400-$500 million in US Government stimulus grants available in support of green energy initiatives. Despite the tough economy, the company still plans to bring 1,000 MW of wind power onstream annually in 2011 and 2012.
In 2010 IBERDROLA Renewables received $170 million of renewable energy stimulus funds (the largest single government grant for wind power projects) to build the 300 MW Cayuga Ridge wind farm in Illinois. – less