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4-Traders Homepage  >  Equities  >  Bolsa de Madrid  >  Iberdrola    IBE   ES0144580Y14

IBERDROLA (IBE)
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Avangrid : Tule Wind Project knocked offline

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04/26/2018 | 03:07am CEST

April 25--The recently opened Tule Wind Project, located in part of the rugged terrain in San Diego's East County, has been knocked offline for the past two weeks due to a faulty underground power cable.

A spokesman for the wind farm's operator, Avangrid Renewables, said the company is still trying to figure out what went wrong and when the facility will get back up and running. The outage has shut down all 57 of the giant turbines that cover an expanse of 5 miles along Interstate 8 in the McCain Valley.

"We're continuing to work to assess all the necessary remediation actions and then we'll implement a complete fix as quickly as possible," said Art Sasse, director of communications and brand for Avangrid, which is based in Oregon. "All turbines are not compromised in any manner as a result of the outage."

The curtailment began on April 11 and according to the California Independent System Operator, which oversees the operation of about 80 percent of the state's electric power system and electricity market, the outage has been listed as "forced," which means it was unplanned.

The Tule Wind Project opened a little more than three months ago after 13 years of bureaucratic and legal battles. The turbines reach 262 feet in height and the blades attached to each rotor stretch to a diameter of 351 feet.

The electricity generated by the 131.1-megawatt wind farm is fed into a substation operated by San Diego Gas & Electric and is part of a 15-year power purchase agreement the operators signed with Southern California Edison.

Avangrid officials have predicted Tule will generate enough electricity to service about 40,000 homes and deliver more than $39 million in state and local tax benefits over 25 years. Eight full-time employees work at the site.

The Tule Wind Project takes up about 12,000 acres of backcountry territory that includes bighorn sheep and golden eagles. Some environmental groups have opposed the wind farm, saying it poses a danger to the area's habitat, eagles in particular. Avangrid officials have long maintained the company has been careful to protect wildlife and birds.

[email protected]

(619) 293-1251 Twitter: @robnikolewski

ALSO

Tule Wind farm now producing electricity

Wind energy in California: The good news and bad news

Group files appeal to stop expansion of Tule Wind Project

___

(c)2018 The San Diego Union-Tribune

Visit The San Diego Union-Tribune at www.sandiegouniontribune.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials (€)
Sales 2018 35 812 M
EBIT 2018 5 245 M
Net income 2018 2 866 M
Debt 2018 34 270 M
Yield 2018 5,20%
P/E ratio 2018 13,94
P/E ratio 2019 12,76
EV / Sales 2018 2,08x
EV / Sales 2019 2,03x
Capitalization 40 343 M
Chart IBERDROLA
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Iberdrola Technical Analysis Chart | IBE | ES0144580Y14 | 4-Traders
Technical analysis trends IBERDROLA
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TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 7,10 €
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
José Ignacio Sánchez Galán Chairman & Chief Executive Officer
José Sáinz Armada Chief Financial & Resources Officer
Íñigo Víctor de Oriol Ibarra External Director
Samantha Barber Independent Director
Inés Macho-Stadler Lead Independent Director
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