Iberdrola will invest a total amount of $2.346 million in the New York State through its two American subsidiaries: New York State Electric and Gas Corporation (NYSEG) and Rochester Gas and Electric Corporation (RG&E).
From the budget announced, 40% will be destined to electricity transportation facilities, 26% to distribution facilities and 24% to the gas business. The total amount of the budget is divided between the two subsidiaries, the New York State Electric and Gas Corporation will invest $1.117 million and Rochester Gas and Electric Corporation $1.169 milllion.
Iberdrola USA approved an investment plan of $416 million for 2012, $334 million in 2013 and $500 million for the following years. Along the period of the plan application, NYSEG will invest $205 per year and customer in electricity and $212 in gas and RG&E will invest $503 per year and customer in electricity and $165 in gas.
Iberdrola USA points out their desire of becoming a high-quality energetic group in New York by getting closed to their clients, offering them the most liable, modern, efficient and safe electric and gas supply while looking for the best environmental solutions.
Iberdrola is not only becoming a leader in the Americas, but in Europe. In France, the Spanish company has signed one of the five contracts in dispute to operate offshore wind power installations.
Iberdrola and Eole-Res have partnered in this offshore project with the French companies Areva, Technip, STX, Eiffage and Neoen Marine. The joint venture, called Alas Marinas will carry out the installation of 100 wind turbines of 5 MW in unit power off the coast of Bretagne.
The contract signed by the French Government grants the consortium exclusive rights for construction and operation of the offshore wind power installations. This initiative will generate 2,000 jobs and consolidate Iberdrola as one of the leading companies in the offshore wind power sector, with a project pipeline of more than 11,000 MW.
The French Industry and Energy minister, Eric Besson, pointed out that they had chosen Iberdrola because of their expertise and qualification in offshore wind power exploitations and their inexpensive offer.
The installation, located in Saint Brieuc, Bretagne, should be operating at the maximum level by 2018-2020.
Apart from Iberdrola, the Spanish company Repsol has also entered the offshore wind power business in partnership with EDPR for the exploitation of the wind energy in the United Kingdom.
