Iberdrola has 2bn euros for wind power

Spanish-held Iberdrola Renovables, the renewable energy division of energy group Iberdrola, says their ongoing investments on the wind power segment in Romania could exceed 2 billion euros. Iberdrola Renovables, world leader on the wind power market, has recently opened an office in Bucharest whose country manager is Romanian Adrian Goicea, former executive general manager of OPCOM energy market operator. The second step for the Spanish is to form a team that will be in charge of the company's projects: 1,600 MW on the wind power market in Dobrogea, more than the power of two nuclear reactors in Cernavoda. "We expect to fulfil the original targets, and even surpass them. The overall investment for the entire portfolio could exceed 2 billion euros," says Goicea. Iberdrola Renovables acquired 50 wind power projects at the beginning of last year, in a 200-300 million-euro transaction. The developer of these projects that will continue to work with Iberdrola, is Eolica Dobrogea, registered in Switzerland, which develops wind power projects in Romania through a Romanian-based branch.