Iberdrola SA won approval to build 50 wind parks in Romania in what would be the world’s largest land-based wind-energy development and require at least $2 billion in investment. Aiming to supply power to almost 1 million homes, the Bilbao, Spain-based company acquired rights from the Romanian government to build 1,500 megawatts of capacity through 2017, its Iberdrola Renovables SA unit said yesterday in a statement.
The Spanish utility has used government incentives and earned above-market rates to become world’s biggest wind-farm owner, producing low-emissions power in 10 markets including the USA and UK. With the mega-park in Romania, near its operations in neighboring Hungary, Iberdrola is set to extend its lead over second-ranked wind producer FPL Group Inc of Florida. Romania generates much of its electricity by burning oil and gas, which can be easily scaled back during windy days to allow for surges of power from windmills, said Will Young, a wind energy analyst at New Energy Finance in London. (Bloomberg)