Iberdrola Renewables and Sempra Generation Each Planning 300MW of Clean Energy

Another 600 megawatts of power from the sun and wind could be coursing through power lines by next year, if the plans of two major companies, Iberdrola Renewables and Sempra Generation, are successful in their plans. Iberdrola is suffering through a rough patch, having just told investors that its first quarter net profit is down 34 percent. However, much of the bad result was due not to bad performance, but to extraordinary gains recorded in the first part of last year. And the company expects to benefit from the economic stimulus package, taking up to half a billion dollars to build more wind generation capacity in the United States. The plan Sempra has is considerably more ambitious, despite calling for…

Source: BNET