Iberdrola plans $6B investment by 2013

Iberdrola Renewables, the U.S. division of Spain-based Iberdrola Renovables SA, made waves at an energy conference this week by announcing plans to invest $6 billion in energy generation by 2013.

Frank Burkhartsmeyer, vice president of strategic planning for Portland-based Iberdrola U.S., spoke on a panel about large energy projects at the World Energy Congress in Montreal Wednesday and outlined his company's plans to add 3,000 megawatts of power capacity over the next three years. His comments attracted the attention of Bloomberg News.

"Demand is growing but there are three factors that influence supply as we see it: the quality of the wind source, predictable, supportive renewable energy policy, and the ability to get power to customers," Burkhartsmeyer said, according to Bloomberg.

Bolstered by the stimulus package, Iberdrola is on track to reach the $6 billion investment goal, according to Iberdrola spokeswoman Jan Johnson.

Iberdrola is the second-largest wind power operator in the United States with an installed capacity of 3,877 megawatts produced at 41 wind farms in 23 states.