Iberdrola moved to release value for shareholders with a plan to sell 20 per cent of Iberenova, its renewable energy unit, in a public share offer in the last quarter of the year. Iberdrola, of Spain, is the biggest producer of wind power in the world and its renewable capacity stands at 6,562 megawatts, up about 2,000MW after the purchase of ScottishPower, which owned wind power assets in the United States. Iberdrola gave no idea of the value of the flotation but said that cash received from the capital increase and share sale would be used to develop Iberenova without putting the parent company’s finances under strain. Iberenova has a development portfolio of nearly 38,000MW, of which about 6,000MW is in Spain, a similar amount in the UK, 5,400MW in the rest of Europe and 19,200MW in America. (Reuters)

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