Spanish utility company
is set to invest $400m in Mexico between 2011 and 2012, with some of the money used for renewable energy projects, according to Reuters.
According to the news agency, the announcement was made jointly by the Spanish power company's chairman and CEO, Ignacio Galan, and Mexico's president Felipe Calderon
According to figures released by the company, Iberdrola has an installed capacity of 5000 MW, derived mainly from combined-cycle gas turbines, in Mexico.
The company’s renewables arm,
, currently has an installed wind capacity of 80 MW in the country, and is currently building the 103 MW Venta III wind farm.