"One Company Gets Lion's Share of $500M in Clean Energy Awards"

"WASHINGTON, DC -- One company has received more than half of $500 million in the first round of grants from a Recovery Act program that provides cash assistance to renewable energy production companies in place of earned tax credits.

Iberdrola Renewables received five of the 12 grants totaling $294.9 million for its wind power projects in four states - more than half of all the grant money awarded in this first round.

Based in Oregon, Iberdrola Renewables is the U.S. branch of Iberdrola, S.A., Spain’s number one energy group and the fourth largest utility company in world.

These grants represent investment by Iberdrola Renewables in U.S. wind power of about $1 billion, company officials said."

Environment News Service had the story September 3, 2009.