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Iberdrola announce profits thanks to green energy

Fri 25th Feb 2011

Iberdrola, currently the world’s largest producer of wind energy, exceeded analysts’ expectations last year in reporting 2.9 billion Euros in profits — analysts had expected returns of 2.17 billion Euros. Furthermore, the company’s power generation rose 8%, reaching 154'073 gigawatt hours and they produced almost 50% of that electricity without emitting any carbon dioxide.

Iberdrola has 44,991 megawatts of energy production worldwide, with operations in numerous countries. Of that production wind and solar account for 28%, hydropower for 22%, and nuclear plants for 7.4%, with production of wind and solar increasing to 12,532 gigawatts last year. Iberdrola currently generates about 50% of all energy outside of Spain and is planning to invest large sums into renewable energy in the US and UK in the coming years.

The benefits of 'green energy' to the environment are undisputed, but following the financial success of such an initiative from one of the biggest renewable energy producers in the world, should mean that other providers will start to take note.