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World’s Biggest Producer of Wind Energy Records $4 Billion in Profits in 2010
The world’s largest producer of wind energy, Spain-based Iberdrola SA, blew way analysts’ expectations last year with a whopping $4 billion in profits — analysts had expected their gain to clock in at $3.9 billion. To sweeten the deal even more, the company’s power generation rose 8 percent to 154,073 gigawatt hours and they produced half of that electricity without emitting carbon dioxide.
Iberdrola has 44,991 megawatts of energy production worldwide — they’ve got investments in many countries — and of that production wind and solar account for 28 percent, hydropower for 22 percent, and nuclear plants for 7.4 percent. Their production of wind and solar rose to 12,532 gigawatts last year. The company generates about half their energy outside of Spain and looks to invest a huge chunk of change into renewable energy in the US and UK in the coming years.
We all know you can shout from the rooftops about the environmental benefits of renewable energy and there will still be a whole host of people that don’t listen but this major profit from one of the biggest renewable energy producers in the world is great news for the clean cause because non-believers all start paying attention when “cha-chings” are heard. In a down economy Iberdrola has proven that green energy is on the up and up. With as much as $22 billion over the next two years in investments — much of it in renewable energy generation — we can all be expecting this initial Iberdrola profit gain to keep on keeping on.
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