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Iberdrola Renovables

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Spanish energy company
Iberdrola Renovables
Company typeSociedad Anónima Unipersonal
Traded asBMAD:IBR
IndustryRenewable energy
Founded2001 (2001)
DefunctJuly 11, 2011 (2011-07-11)
FateMerged with Iberdrola
HeadquartersValencia, Spain
Key peopleIgnacio Galán (president)
Xavier Viteri (CEO)
ParentIberdrola

Iberdrola Renovables was a subsidiary of Iberdrola, headquartered in Valencia, Spain, which included companies in the domains of renewable energy, particularly wind power. The firm was the world's largest renewable energy firm: it was the world's largest owner-operator of wind farms, but also operated in the solar, hydro, biomass and wave power industries.

History

Iberdrola Renovables was registered in Madrid following its incorporation in 2001. It started as a wholly owned business unit of Iberdrola under the name Iberenova. In 2009 the company changed its registered office to Valencia. However, it still had a strong presence in Madrid and in Bilbao, its birthplace.

Flotation

The company was listed on the Madrid Stock Exchange in December 2007 in an initial public offering. 844,812,980 new shares were placed at a price of €5.30 each. The operation totalled €5 billion, the largest placement ever made on the Spanish market by a new company.

The company joined the benchmark IBEX 35 index in a February 2008 reshuffle.

Merger with Iberdrola

In July 2011, Iberdrola Renovables merged with its parent company Iberdrola and is now Iberdrola's renewable energy business. Minority shareholders could change their shares into Iberdrola shares at a 1 for 2 ratio, equivalent to a value of around €3 for each share of Iberdrola Renovables.

See also

References

  1. "UPDATE 3-EDP Renewables shares slip on bourse debut". Reuters. 2008-06-04. Archived from the original on March 5, 2016.
  2. "Iberdrola to float world's largest wind-power company: report". MarketWatch. 9 September 2007. Retrieved 2008-09-20.
  3. "Iberdrola to raise up to 4 bln eur in Iberenova float - report". AFX News. ABC Money. 9 September 2007. Archived from the original on 1 April 2012. Retrieved 2008-09-20.
  4. Rix, Kristian (13 December 2007). "Iberdrola Unit Drops in Debut After $6 Billion IPO". Bloomberg. Retrieved 2008-09-20.
  5. "Criteria, Iberdrola Renovables to replace Altadis, AGBAR in IBEX-35 index Feb 4". Forbes. AFX News. 29 January 2008. Archived from the original on 2008-02-03. Retrieved 2008-09-20.
  6. Iberdrola and Iberdrola Renovables approve merger plan, 03/22/2011

External links

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