Energy giant Iberdrola has pledged to plough more than 40 per cent of its total investment until 2014 into its UK operations as its ScottishPower business proved a star turn in resilient annual trading results. The Spanish multi-national's commitment came as ScottishPower Renewables also revealed yesterday that it has won planning permission from the Scottish Government to build a giant 96-turbine windfarm at Kilgallioch, south of Barrhill in south-west Scotland. Iberdrola said �4.4 billion (�3.8bn) would be invested in the UK over the three-year period, the lion's share of it in ScottishPower, but also other operations including those in the north-west of England and Wales. [The Scotsman]
23 Oct '12
Iberdrola's renewable energy unit is negotiating the sale of its main asset, Europe's largest windpower project with 1,200 megawatt capacity in Romania, to Chinese company Sinovel, Spanish financial daily El Economista reports. Sources close to the operation confirm that talks are ongoing but that there is no binding offer. For a deal to go through, the Chinese company must find a partner to deveop the windpower farm, which will supply energy to a million homes and will reduce carbon dioxide emissions by 1.25 million tons. The sale would be part of a divestment strategy being prepared by the Spanish power company that will be presented in London on Wednesday following the quarterly earnings presentation. Analysts at Deutsche Bank have raised their price target for Iberdrola to €4.20 from €3.80 and reiterated their hold rating.
1 Aug '12
Is shown here in Euro -so you get 25% discount .Buy in sterling with some brokers and in ISA
1 Aug '12
For half year results go to www.ibe.com Results show a 44% decline in Spanish earnings but this is counterbalanced by increased global earnings particularly 24% up from USA. Its the owner of Scottish Power sadly sold to them by our UK shareholders -a once great divi payer.However Iberdrola shares are still cheap having fallen a long way. It pays a stock dividend iwithout any witholding tax unless you want cash you have to ask. Buy on weakness trade or keeplong term.
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