[ exact phrase in "" • results by date ]

[ Google-powered • results by relevance ]


News Home

Subscribe to RSS feed

Add NWW headlines to your site (click here)

Sign up for daily updates

Keep Wind Watch online and independent!

Donate $10

Donate $5

Selected Documents

All Documents

Research Links


Press Releases


Publications & Products

Photos & Graphics


Allied Groups

Spanish energy company Iberdrola continues wind projects in Vermont despite market contraction  

Credit:  by Andrew Stein | December 11, 2012 | vtdigger.org ~~

The Spanish energy conglomerate Iberdrola SA announced last month that it is planning to scale back renewable energy investments in the United States.

The decision comes after Moody’s downgrade of Iberdrola’s credit rating to Baa1 with a negative outlook. The European debt crisis has also had an impact on the company’s ability to expand.

Iberdrola is still pursing two wind projects in Vermont, however. The first is the 30-megawatt, 15 turbine Deerfield Wind Project in Readsboro. The Vermont Public Service Board previously granted Iberdrola a certificate of public good for the project, which is a necessary permit for construction, but the project has been held up by some changes to the turbine blades and a federal lawsuit filed against the utility by Vermonters for a Clean Environment.

Iberdrola also has a pending application with the state to build meteorological towers in Grafton and Windham to test for wind power capacity.

Those two projects, said Iberdrola spokesman Paul Copleman, are the energy company’s only plans in Vermont.

“We feel that Vermont is a good state to do business in,” he said. “But in terms of other plans or projects, that’s the extent of it at this point.”

Copleman said that there’s lower demand for solar and wind energy in the United States at the moment due to shifting energy policies, a slow economy and low energy prices from natural gas exploration in North America.

“At this point in time, when we look at the uncertainty surrounding federal policy and energy markets, it doesn’t look like we’re going to be doing new construction in 2013,” he said. “But as a financially strong company, with a pretty widespread pipeline of projects in various stages across the country, we’re in a position to pursue the right opportunity should conditions improve.”

Source:  by Andrew Stein | December 11, 2012 | vtdigger.org

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

Wind Watch relies entirely
on User Funding
Donate $5 PayPal Donate


News Watch Home

Get the Facts Follow Wind Watch on Twitter

Wind Watch on Facebook


© National Wind Watch, Inc.
Use of copyrighted material adheres to Fair Use.
"Wind Watch" is a registered trademark.