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4-Traders Homepage  >  Equities  >  Mercado Continuo Espanol  >  Iberdrola SA    IBE   ES0144580Y14

Real-time Quote. Real-time Tradegate - 08/30 09:27:32 am
5.908 EUR   +0.46%
08/29 IBERDROLA : to build two new wind farms in Canary Islands
08/26 IBERDROLA : wins Canaries bounty
08/26 IBERDROLA : surpasses eight million smart meters installed in Spain
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Iberdrola : to build two new wind farms in Canary Islands

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08/29/2016 | 07:22am CEST
Volver23/08/2016

Expected investment about €40 million

  • The company has received the go-ahead to commence development on its projects covered by the specific Canary Islands wind power quota tax scheme
  • Las Aulagas (13.8 MW) and Chimiche II (18.4 MW) wind farms to be located on island of Tenerife

IBERDROLA is to build two new wind farms in the Canary Islands after receiving the go-ahead to commence development on two projects in Tenerife. The Las Aulagas (13.8 MW) and Chimiche II (18.4 MW) wind farms have been authorised for registration with pre-allocation status in the Specific Canary Islands Wind Power Quota Tax Scheme (450 MW).

The company will be sharing these projects with a local partner. The expected investment amounts to about €40 million and the time frame for commissioning the facilities is approximately 21 months from now.

The tax system for projects built in the Canary Islands under the auspices of the aforementioned wind power quota includes specific conditions to ensure the feasibility of commissioning these facilities.

IBERDROLA will therefore start to build its first wind farm in since December 2012, when it commissioned El Segredal in Asturias, a facility with an installed capacity of 36 MW provided by 18 Gamesa G80 model wind turbines.

IBERDROLA is the leading producer of wind power in the country and its aggregate wind power capacity in Spain is over 5,500 MW in various autonomous regions: Castile-La Mancha (1,804 MW), Castile and León (1,453 MW), Andalusia (857 MW), Galicia (627 MW), Aragon (305 MW), Murcia Region (161 MW), Basque Country (143 MW), Asturias (74 MW), Catalonia (50 MW) and Cantabria (32 MW).

It is important to note that the company has contributed to the development of the rural areas where it set up its wind farms, by promoting jobs for local employees and backing economic revival in towns that benefit from hosting a wind farm.

IBERDROLA has been a pioneer in developing wind power in Spain from the outset. The company has also contributed towards the creation of an important national industrial sector focusing on wind power, helping it to expand abroad by including it in the various projects it carries out elsewhere in the world.

Iberdrola SA published this content on 23 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 August 2016 05:21:14 UTC.

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Financials (€)
Sales 2016 33 147 M
EBIT 2016 4 515 M
Net income 2016 2 571 M
Debt 2016 28 367 M
Yield 2016 4,99%
P/E ratio 2016 14,41
P/E ratio 2017 14,14
EV / Sales 2016 1,98x
EV / Sales 2017 1,93x
Capitalization 37 415 M
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Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 6,53 €
Spread / Average Target 11%
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NameTitle
José Ignacio Sánchez Galán Chairman & Chief Executive Officer
Francisco Martínez Córcoles Group Chief Operating Officer
José Sáinz Armada Chief Financial & Resources Officer
Íñigo Víctor de Oriol Ibarra External Director
Braulio Medel Cámara Independent Director
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