Iberdrola Renovables was a subsidiary of
Iberdrola
Iberdrola () is a Spanish multinational electric utility company based in Bilbao, Spain. Iberdrola has a workforce of around 34,000 employees serving around 31.67 million customers. Subsidiaries include Scottish Power (United Kingdom) ...
, headquartered in
Valencia, Spain
Valencia ( va, València) is the capital of the autonomous community of Valencia and the third-most populated municipality in Spain, with 791,413 inhabitants. It is also the capital of the province of the same name. The wider urban area also ...
, which included companies in the domains of
renewable energy
Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, the movement of water, and geothermal heat. Although most renewable energy ...
, particularly
wind power
Wind power or wind energy is mostly the use of wind turbines to electricity generation, generate electricity. Wind power is a popular, sustainable energy, sustainable, renewable energy source that has a much smaller Environmental impact of wi ...
. The firm was the world's largest renewable energy firm: it was the world's largest owner-operator of
wind farm
A wind farm or wind park, also called a wind power station or wind power plant, is a group of wind turbines in the same location used Wind power, to produce electricity. Wind farms vary in size from a small number of turbines to several hundre ...
s, but also operated in the
solar,
hydro
Hydro from Ancient Greek word ὕδωρ (húdōr), meaning ''water''.
Hydro may also refer to:
Energy technologies
* Water-derived power or energy:
** Hydropower, derived from water
** Hydroelectricity, in electrical form
* "Hydro", AC mains ...
,
biomass
Biomass is plant-based material used as a fuel for heat or electricity production. It can be in the form of wood, wood residues, energy crops, agricultural residues, and waste from industry, farms, and households. Some people use the terms bi ...
and
wave power
Wave power is the capture of energy of wind waves to do useful work – for example, electricity generation, water desalination, or pumping water. A machine that exploits wave power is a wave energy converter (WEC).
Waves are generated by wind p ...
industries.
History
Iberdrola Renovables was registered in
Madrid
Madrid ( , ) is the capital and most populous city of Spain. The city has almost 3.4 million inhabitants and a metropolitan area population of approximately 6.7 million. It is the second-largest city in the European Union (EU), and ...
following its incorporation in 2001. It started as a wholly owned business unit of Iberdrola under the name Iberenova. In 2009 the company changed its registered office to Valencia. However, it still had a strong presence in Madrid and in Bilbao, its birthplace.
Flotation
The company was listed on the
Madrid Stock Exchange
Bolsa de Madrid (; Madrid Stock Exchange) is the largest and most international of Spain's four regional stock exchanges (the others are located in Barcelona, Valencia, and Bilbao) that trade shares and convertible bonds and fixed income securiti ...
in December 2007 in an
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
. 844,812,980 new shares were placed at a price of €5.30 each. The operation totalled €5
billion
Billion is a word for a large number, and it has two distinct definitions:
*1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is its only current meaning in English.
* 1,000,000,000,000, i.e ...
, the largest placement ever made on the Spanish market by a new company.
The company joined the benchmark
IBEX 35
The IBEX 35 (IBerian IndEX) is the benchmark stock market index of the Bolsa de Madrid, Spain's principal stock exchange. Initiated in 1992, the index is administered and calculated by Sociedad de Bolsas, a subsidiary of Bolsas y Mercados Españo ...
index in a February 2008
reshuffle
A cabinet reshuffle or shuffle occurs when a head of government rotates or changes the composition of Political minister, ministers in their Cabinet (government), cabinet, or when the Head of State changes the head of government and a number of ...
.
Merger with Iberdrola
In July 2011, Iberdrola Renovables merged with its parent company
Iberdrola
Iberdrola () is a Spanish multinational electric utility company based in Bilbao, Spain. Iberdrola has a workforce of around 34,000 employees serving around 31.67 million customers. Subsidiaries include Scottish Power (United Kingdom) ...
and is now Iberdrola's renewable energy business.
Iberdrola and Iberdrola Renovables approve merger plan, 03/22/2011
/ref> Minority shareholders could change their shares into Iberdrola shares at a 1 for 2 ratio, equivalent to a value of around €3 for each share of Iberdrola Renovables.
See also
* Enel Green Power
Enel Green Power S.p.A. is an Italian multinational renewable energy corporation, headquartered in Rome.
The company was formed as a subsidiary of the power generation firm Enel in December 2008. It is present with assets in operation or under ...
References
{{Reflist
External links
Official site
Renewable energy companies of Spain
Wind power companies
Renewable energy in Spain
Companies based in Valencia
Energy companies established in 2001
Renewable resource companies established in 2001
Energy companies disestablished in 2011
Spanish companies established in 2001
Renewable resource companies disestablished in 2011
Spanish companies disestablished in 2011
Defunct electric power companies of Spain
Iberdrola