Iberdrola to invest in Spanish energy projects

Iberdrola of Spain has announced that its Mexican operations Iberdrola Energia Altamira has signed a USD 200 million contract with ICA Fluor Daniel for the engineering, supply and construction of combined-cycle energy projects at Altamirano III and IV in Tamaulipas over 30 months with a 12-month guarantee. Iberdrola had previously announced investments of USD 590 million in the projects between 2001 and 2003 (start-up aimed for May 2003). The two Altamiranos will boast capacity of 1038mw. Energy will be sold to CFE over 25 years.

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