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Iberdrola Renovables creates offshore wind division, will invest €1.9bn in UK over next three years Iberdrola Renovables, a division of ScottishPower's parent company, says it will invest €9 billion between now and 2012 in wind energy. Almost €1.9 billion will be invested in the UK. The firm announced today its new Offshore Wind division will be headed by Keith Anderson and incorporated into ScottishPower Renewables. Iberdrola Renovables says it expects to increase operating profit by 20 per cent this year due to an additional 1.75GW installed capacity, taking its total to 12.5GW. Last year the firm recorded a gross operating profit of €1.3 billion. Source: Utility Week © Faversham House Group Ltd 2010. News articles may be copied or forwarded
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