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Spain's Iberdrola Renovables Opens Arizona's First Wind Farm

October 14, 2009
Source: New Energy Finance

Spain's project developer Iberdrola Renovables continues its headlong growth in the U.S. with the inauguration of Arizona's first wind farm, the 63 MW Dry Lake plant.

The company's U.S. subsidiary has opened its 35th wind farm in the US, which will supply the Phoenix metropolitan area under a 20-year agreement with Salt River Project, one of Arizona's largest utilities.

In addition to the 30-turbine wind farm, located in Navajo County, Iberdrola Renovables said it has completed construction of its 149MW Rugby wind farm in North Dakota, which is currently undergoing testing.

The firm, present in 20 U.S. states, highlighted to New Energy Finance that the US is a key market due to the strong regulatory support and that projects there correspond to 42% of its project pipeline.

It has ambitious expansion plans in the U.S., which currently contributes more than 30% of its total installed capacity, or 3,459 MW. Having invested around $2 billion last year, the company has been the biggest recipient to date of grants approved as part of the country's economic stimulus package – $546 million, corresponding to eight wind farms.

The company added that more grants were expected, as they are solicited following project completions and the pipeline is strong.