The North American division of Spanish renewable energy giant Iberdrola Renovables has again received approval from the United States Treasury Department this time for almost $251 million in grants to support new wind energy projects in three states.

Oregon-based Iberdrola Renewables, Inc. received approval for a total of $250,953,367 in grants for three wind farms in Iowa, Missouri and Texas. The grants represent the company’s investment of approximately $860 million in the wind power market of the three states.

The grants were awarded to the 160-megawatt Barton wind project in Iowa, the 146-megawatt Farmers City wind project in Missouri, and the 120-megawatt Barton Chapel project in Texas.

To date, Iberdrola has submitted eight grant applications for new renewable energy projects across the United States. Earlier this month, the company received almost $300 million in treasury grants for five wind energy projects in Texas, Minnesota, Pennsylvania and Oregon.

With the approval of the three additional grant applications, Iberdrola has now received almost $550 million in federal funds for all eight wind power projects.

Direct and indirect jobs

Representing Iberdrola’s investment of more than $1.8 billion, the projects can generate a total of 980 megawatts of wind energy. According to the American Wind Energy Association, 980 megawatts of new wind construction can create between 11,800 and 14,000 direct and indirect jobs in a single year.

All grants were authorized under President Obama’s American Recovery and Reinvestment Act as a substitute for the renewable energy production tax credits provided to renewable energy projects. The effects of the global economic crisis have earlier prevented renewable energy companies from using the production tax credits as an incentive for investing.

“The stimulus grant program allowed Iberdrola Renewables to resume its aggressive investment in wind farms all over the US—projects that are creating new, family-wage jobs in communities under economic strain,” said Ralph Currey, president and chief executive of Iberdrola.

Iberdrola is currently constructing five wind projects in Arizona, Illinois, North Dakota, Oregon and Texas. The company has 10,003 megawatts of total installed capacity, including more than 3,000 megawatts in the United States. The company is planning to invest an additional $6 billion in renewable energy facilities through 2012.



-   Natassia Y. Laforteza