Iberdrola Renovables was a subsidiary of

Iberdrola Iberdrola, S.A. () is a Spanish multinational electric utility company based in Bilbao, Spain. It has around 40,000 employees and serves around 30 million customers. Subsidiary, Subsidiaries include ScottishPower (United Kingdom), Ava ...

, headquartered in

Valencia, Spain Valencia ( , ), formally València (), is the capital of the Province of Valencia, province and Autonomous communities of Spain, autonomous community of Valencian Community, the same name in Spain. It is located on the banks of the Turia (r ...

, which included companies in the domains of

renewable energy Renewable energy (also called green energy) is energy made from renewable resource, renewable natural resources that are replenished on a human lifetime, human timescale. The most widely used renewable energy types are solar energy, wind pow ...

, particularly

wind power Wind power is the use of wind energy to generate useful work. Historically, wind power was used by sails, windmills and windpumps, but today it is mostly used to generate electricity. This article deals only with wind power for electricity ge ...

. The firm was the world's largest renewable energy firm: it was the world's largest owner-operator of

wind farm A wind farm, also called a wind park or wind power plant, is a group of wind turbines in the same location used to produce electricity. Wind farms vary in size from a small number of turbines to several hundred wind turbines covering an exten ...

s, but also operated in the

solar Solar may refer to: Astronomy * Of or relating to the Sun ** Solar telescope, a special purpose telescope used to observe the Sun ** A device that utilizes solar energy (e.g. "solar panels") ** Solar calendar, a calendar whose dates indicate t ...

hydro Hydro (from ) may refer to: Energy technologies * Water-derived power or energy: ** Hydropower, derived from water ** Hydroelectricity, in electrical form * "Hydro", AC mains electricity in parts of Canada * Micro hydro, a type of hydroelect ...

biomass Biomass is a term used in several contexts: in the context of ecology it means living organisms, and in the context of bioenergy it means matter from recently living (but now dead) organisms. In the latter context, there are variations in how ...

and

wave power Wave power is the capture of energy of wind waves to do useful mechanical work, work – for example, electricity generation, desalination, or pumping water. A machine that exploits wave power (physics), power is a wave energy converter (WEC). W ...

industries.

History

Iberdrola Renovables was registered in

Madrid Madrid ( ; ) is the capital and List of largest cities in Spain, most populous municipality of Spain. It has almost 3.5 million inhabitants and a Madrid metropolitan area, metropolitan area population of approximately 7 million. It i ...

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 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 investm ...

. 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 now the most common sense of the word in all varieties of ...

, 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 Espa� ...

index in a February 2008 reshuffle.

Merger with Iberdrola

In July 2011, Iberdrola Renovables merged with its parent company

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.

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 Companies formerly listed on the Madrid Stock Exchange

History

Flotation

Merger with Iberdrola

See also

References

External links