Iberdrola Wins Big on Stimulus Grants. By R. M. Schneiderman, NYTimes, September 1, 2009. "Iberdrola, the Spanish energy giant, emerged on Tuesday as the early winner in the government's plan to aid the nation's clean-energy sector as part of the stimulus package passed in February. Roughly $295 million of the initial $502 million in grants on Tuesday went to five wind-power projects run by a unit of Iberdrola. That figure includes the two largest individual projects: a $114 million grant to the Penascal Wind Farm in Sarita, Tex., and a $59 million grant to the Locust Ridge II wind farm in Shenandoah, Pa. The grants announced on Tuesday offered companies a 30 percent subsidy on the cost of their energy projects, helping to finance 12 wind and solar projects in eight states. In total, the stimulus program is expected to provide at least $3 billion in financial support for an estimated 5,000 renewable energy production facilities across the country."
2009-09-06
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