24 February 2011
The world's largest producer of wind power, Spain based Iberdrola SA, blew away analysts' expectations last year with a whopping $4 billion in profits analysts had expected their gain to clock in at $3.9 billion. To sweeten the deal even more, the company's power generation rose 8% to 154,073 GWs and they produced half of that electricity without emitting CO₂.Iberdrola has 44,991 MWs of energy production worldwide they've got investments in many countries and of that production wind and solar account for 28%, hydropower for 22%, and nuclear plants for 7.4%. Their production of wind and solar rose to 12,532 GWs last year. The company generates about half their energy outside of Spain and looks to invest a huge chunk of change into renewable energy in the US and UK in the coming years.
We all know you can shout from the rooftops about the environmental benefits of renewable energy and there will still be a whole host of people that don't listen but this major profit from one of the biggest renewable energy producers in the world is great news for the clean cause because non believers all start paying attention when "cha chings" are heard. In a down economy Iberdrola has proven that green energy is on the up and up. With as much as $22 billion over the next two years in investments much of it in renewable energy generation we can all be expecting this initial Iberdrola profit gain to keep on keeping on.
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