Iberdrola Renovables
Encyclopedia
-
Iberdrola Renovables was a subsidiary of Iberdrola
, headquartered in Valencia, Spain, which included companies in the domains of renewable energy
, particularly wind power
. The firm was the world's largest renewable energy firm: it was the world's largest owner-operator of wind farm
s, but also operated in the solar, hydro
, biomass
and wave power
industries.
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.
in December 2007 in an initial public offering
. 844,812,980 new shares were placed at a price of €5.3 each. The operation totalled €5 billion, the largest placement ever made on the Spanish market by a new company.
The company joined the benchmark IBEX 35
index in a February 2008 reshuffle.
, so is now the Iberdrola's renewable business.
Iberdrola Renovables was a subsidiary of Iberdrola
Iberdrola
Iberdrola , headquartered in Bilbao, is a private utility with a global footprint and over 150 years of experience...
, headquartered in Valencia, Spain, which included companies in the domains of renewable energy
Renewable energy
Renewable energy is energy which comes from natural resources such as sunlight, wind, rain, tides, and geothermal heat, which are renewable . About 16% of global final energy consumption comes from renewables, with 10% coming from traditional biomass, which is mainly used for heating, and 3.4% from...
, particularly wind power
Wind power
Wind power is the conversion of wind energy into a useful form of energy, such as using wind turbines to make electricity, windmills for mechanical power, windpumps for water pumping or drainage, or sails to propel ships....
. The firm was the world's largest renewable energy firm: it was the world's largest owner-operator of wind farm
Wind farm
A wind farm is a group of wind turbines in the same location used to produce electric power. A large wind farm may consist of several hundred individual wind turbines, and cover an extended area of hundreds of square miles, but the land between the turbines may be used for agricultural or other...
s, but also operated in the solar, hydro
Hydroelectricity
Hydroelectricity is the term referring to electricity generated by hydropower; the production of electrical power through the use of the gravitational force of falling or flowing water. It is the most widely used form of renewable energy...
, biomass
Biomass
Biomass, as a renewable energy source, is biological material from living, or recently living organisms. As an energy source, biomass can either be used directly, or converted into other energy products such as biofuel....
and wave power
Wave power
Wave power is the transport of energy by ocean surface waves, and the capture of that energy to do useful work — for example, electricity generation, water desalination, or the pumping of water...
industries.
History
Iberdrola Renovables was registered in MadridMadrid
Madrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan...
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 ExchangeBolsa de Madrid
Bolsa de Madrid is the largest and most international of Spain's four regional stock exchanges that trade shares and convertible bonds and fixed income securities, and both government and private-sector debt...
in December 2007 in an initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
. 844,812,980 new shares were placed at a price of €5.3 each. The operation totalled €5 billion, the largest placement ever made on the Spanish market by a new company.
The company joined the benchmark IBEX 35
IBEX 35
The IBEX 35 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 Españoles , the company which runs Spain's securities markets...
index in a February 2008 reshuffle.
Merger with Iberdrola
In July 2011, Iberdrola Renovables merged with its parent company IberdrolaIberdrola
Iberdrola , headquartered in Bilbao, is a private utility with a global footprint and over 150 years of experience...
, so is now the Iberdrola's renewable business.