Iberdrola bullish on UK as key area for renewables growth

Iberdrola's Whitelee wind farm in Scotland

Iberdrola chairman Ignacio Galán gave the UK a much-needed vote of confidence when he named the country as one of its key areas for renewables growth and backed the direction of its power market reforms.

The UK has recently faced criticism over the speed and detail of its reforms, with claims that major foreign investors were nervous about making commitments to the country.

Iberdrola said today that its two main expansion focus areas for 2012-2014 are “sustained growth in the UK and selective growth in Latin America”.

Iberdrola will add 1.45GW of new wind power during the period, of which 45% will be in the UK.

Speaking in London, Galán also played down any potential problems in the run-up to the Scottish referendum on independence in 2014.

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