Key Developments: Iberdrola SA (IBE.MC)

IBE.MC on Madrid SE C.A.T.S.

22 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Iberdrola to build 69 MW dersalloch wind farm in Scotland
Wednesday, 20 Aug 2014 

Iberdrola SA:Iberdrola, through its UK subsidiary ScottishPower Renewables, has received consent from Scottish Government for 23 wind turbines at Dersalloch Hill in South Ayrshire, with nominal capacity of up to 69 MW.Wind farm site is located to the east of Staiton, in Scotland.  Full Article

Iberdrola starts work on construction of 66 MW Pier II wind farm in Mexico; to carry out project with local partner
Tuesday, 12 Aug 2014 

Iberdrola SA:Starts construction work for Pier II wind farm, with installed capacity of 66 megawatts (MW), in Mexico.Pier II will be located in municipality of Esperanza.It will be equipped with 33 Gamesa G97 wind turbines, each with a unit capacity of 2 MW.Wind farm will be located in Puebla state in south of country.Developing this new infrastructure will require investment of some $120 million.By the time it is connected to grid, it will be able to supply renewable energy to 25,000 Mexican households.IBERDROLA will be carrying out this project along with local partner, Mexican firm Impulsora Latinoamericana de Energias (ILER).  Full Article

Iberdrola SA sells 25 percent stake in Bahia Bizkaia Electricidad for 111 million euros-Reuters
Wednesday, 30 Jul 2014 

Iberdrola SA:Announces that the company has reached an agreement to sell its 25 percent stake in Bahia Bizkaia Electricidad (BBE) to BP for 111 million euros ($148.72 million)-Reuters.BP already owned a 50 percent stake in BBE, a power plant located in northern Spain.  Full Article

Iberdrola updates on script dividend
Friday, 18 Jul 2014 

Iberdrola SA:Trading period for free-of-charge allocation rights corresponding to capital increase ended on July 17.Holders of 3,012,527,967 free-of-charge allocation rights entitled to accept irrevocable commitment to purchase rights assumed by Iberdrola have done so.Iberdrola has acquired such rights in total gross amount of 343,428,188.24 euros.Iberdrola has waived the free-of-charge allocation rights acquired pursuant to above and, therefore, new shares corresponding to such rights.Definitive number of ordinary shares with unitary par value of 0.75 euros that will be issued in capital increase is 67,239,000, with nominal amount of capital increase being 50,429,250 euros.It is expected that new shares will be admitted to trading on Bilbao, Madrid, Barcelona and Valencia Stock Exchanges, through Automated Quotation System (Electronic Market), on July 24.Ordinary trading of new shares is expected to commence on July 25.  Full Article

Iberdrola Ingenieria completes first renewable energies project in South Africa
Tuesday, 15 Jul 2014 

Iberdrola SA:Says Iberdrola Ingenieria has completed development of its first renewable energies project in South Africa.Project consists of construction of three facilities: Noblesfontein and Klipheuwel wind farms and Jasper photovoltaic power plant.Contracts worth 273 million euros.Two wind farms and photovoltaic power plant built by subsidiary of Iberdrola in consortium with South African firm Group Five have combined capacity of 200 megawatts (MW).Two wind power projects located in Western Cape and Northern Cape provinces were built on turnkey basis.Noblesfontein facility has capacity of 74 MW.It was awarded in contract worth 112 million euros by consortium formed by Spanish firm Gestamp Wind and two South African partners: Shanduka and Sarge.This facility consists of 41 wind turbines with unit capacity of 1.8 MW (Vestas V100 model), as well as substation and power line needed to upload energy to grid.Klipheuwel wind farm awarded by South African firm Biotherm Energy and valued at 40 million euros has capacity of 27 MW and is located close to Caledon.  Full Article

Iberdrola Ingenieria and Gamesa to build 50 MW San Marcos wind farm in Honduras
Wednesday, 9 Jul 2014 

Iberdrola SA:Iberdrola Ingenieria Gamesa have entered into agreement with Honduras-based Grupo Terra to build San Marcos wind farm in turnkey project.Transaction value 62 million euros.Wind power facility to have capacity of 50 megawatts (MW).Farm to be located in municipality of San Marcos de Colon, 140 km south of Honduran capital Tegucigalpa and close to border with Nicaragua.Iberdrola subsidiary to be in charge of engineering, procurement, construction and start-up of wind farm.Iberdrola Ingenieria to build electrical substation and 40 km power line for uploading energy to grid.Gamesa to be in charge of supplying turbines for this wind power facility.Gamesa to deliver 25 G90 model wind turbines with unit power of 2 MW each, with hub height of 78 m and rotor diameter of 90 m.  Full Article

Iberdrola enters into concession agreement for Alto Tamega hydroelectric complex
Friday, 4 Jul 2014 

Iberdrola SA:Enters into concession agreement with Portuguese State, represented by Agencia Portuguesa do Ambiente.Says under agreement company to have right to build and exploit 1,158 MW Alto Tamega hydroelectric complex.Project comprises hydroelectric infrastructures of Gouvaes, Alto Tamega and Daivoes.Company was awarded project in 2008.Project to be built in various stages, and to be completed in maximum of nine years.Works are expected to begin in first quarter of 2015.Heaviest investment to take place from 2018 to 2020.Budget of project is 1,200 million euros.  Full Article

Iberdrola updates on script dividend
Tuesday, 1 Jul 2014 

Iberdrola SA:Says maximum market value of reference for capital increase in amount of 725 million euros.Amount guarantees fixed price of purchase commitment assumed by Iberdrola of, at least, 0.114 gross euros per right.Maximum number of shares to be issued by means of capital increase is 130,000,000.Number of free-of-charge allocation rights required to receive one new share is 48.Maximum nominal amount of capital increase is 97,500,000 euros.Purchase price of free-of-charge allocation rights under purchase commitment made by Iberdrola is 0.114 euros.  Full Article

Iberdrola completes sale of 50 pct stake in NNB Development Company to Advance Energy UK Limited
Thursday, 26 Jun 2014 

Iberdrola SA:Says that on June 26 it completed sale of shareholding interest of Iberdrola in NNB Development Company SA (representing 50 percent stake ) to Advance Energy UK Limited.Sale price amounts to about 86 million pounds (about 107 million euros).Transaction has generated estimated consolidated gross profits of about 95 million euros.  Full Article

Spanish regulator probes Iberdrola over price manipulation-Reuters
Tuesday, 17 Jun 2014 

Iberdrola SA:Spanish markets and competition regulator CNMC said it was opening investigation into Iberdrola over possible electricity price manipulation at its generation business-Reuters.Iberdrola said CNMC probe was limited to activity from certain hydraulic installations between Nov. 30 and Dec. 23 and denied any wrongdoing.  Full Article

UPDATE 1-Iberdrola maintains outlook after steady H1

* Maintains guidance for EBITDA of 6.6 billion euros in 2014

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