NEW ENERGY GIANT

Size matters: The energy market just keeps getting bigger and when the cost of carbon starts getting figured in, renewables are going to look like the best bargain around.

Merger Creates Renewables Giant
April 25, 2007 (UPI)

WHO
Spanish utility Iberdrola/ CEO Ignacio Galan, ScottishPower
wind in Spain
WHAT
The merger of two large utilities heavily invested in New Energy creates a single entity likely to have a major impact on renewables in Europe.

WHEN
The deal begun in November, 2006, was announced complete April 23.

WHERE
Spain, Scotland
wind in Scotland
WHY
Iberola is a major European force in wind energy. ScottishPower is a major holder in hydroelectric. Together, they control 40,000 installed megawatts, 16,500 installed megawatts of renewables. Galan will become CEO of ScottishPower. The merger is not expected to affect customers.

QUOTES
Galan on the merger: "…the birth of one of the largest electricity companies in the world, a leader in renewables with an enterprise value of more than $88 billion."