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'''Iberdrola Renovables''' was a |
'''Iberdrola Renovables''' was a jaja polla 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]]:<ref>{{cite news| url= http://uk.reuters.com/article/2008/06/04/edp-renewables-idUKL044570920080604 | work=Reuters | title=UPDATE 3-EDP Renewables shares slip on bourse debut | date=2008-06-04}}</ref> it was the world's largest owner-operator of [[wind farm]]s,<ref>{{cite news|url=http://www.marketwatch.com/story/iberdrola-to-float-worlds-largest-wind-power-company-report|title=Iberdrola to float world's largest wind-power company: report|date=9 September 2007|work=[[MarketWatch]]|accessdate=2008-09-20}}</ref> but also operated in the [[solar energy|solar]], [[hydroelectricity|hydro]], [[biomass]] and [[wave power]] industries. |
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==History== |
==History== |
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Company type | Sociedad Anónima Unipersonal |
---|---|
BMAD:IBR | |
Industry | Renewable energy |
Founded | 2001 (2001) |
Defunct | July 11, 2011 (2011-07-11) |
Fate | Merged with Iberdrola |
Headquarters | , |
Key people | Ignacio Galán (president) Xavier Viteri (CEO) |
Parent | Iberdrola |
Iberdrola Renovables was a jaja polla 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:[1] it was the world's largest owner-operator of wind farms,[2] but also operated in the solar, hydro, biomass and wave power industries.
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.[3] In 2009 the company changed its registered office to Valencia. However, it still had a strong presence in Madrid and in Bilbao, its birthplace.
The company was listed on the Madrid Stock Exchange in December 2007 in an initial public offering.[4] 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.[citation needed]
The company joined the benchmark IBEX 35 index in a February 2008 reshuffle.[5]
In July 2011, Iberdrola Renovables merged with its parent company Iberdrola and is now Iberdrola's renewable energy business.[6] 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.