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Iberdrola to raise up to 4 bln eur in Iberenova float - report


Published :
Sun, 09 Sep 2007 18:03
By : Agencies
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LONDON (Thomson Financial) - Spanish power group Iberdrola SA, which owns the UK's Scottish Power, will raise up to 4 bln eur when it floats the world's largest wind power company, the Independent on Sunday reported.

Iberdrola hopes to list its Iberenova division, which analysts say will be valued at between 16 bln eur and 20 bln eur, next month in Madrid, the newspaper said.

Iberenova is the world's largest wind farm operator and owner, with a portfolio of wind farms with 6,500 megawatts of capacity, 350 megawatts of hydroelectric power and a further 40,000 megawatts of planned wind farms in the pipeline.

By selling one fifth of Iberenova shares, Iberdrola will raise capital to finance the subsidiary's planned developments, the Independent reported.

philip.waller@thomson.com

paw/jag

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