Iberdrola’s Latin American electricity generation up 18.2 % in 2005

Spanish power firm Iberdrola's Latin American power generation increased 18.2 % to 19,427 GWh in 2005 from the previous year due to increased Mexican and Brazilian combined cycle generation, the company announced in its year-end earnings statement.
Latin American electricity production constituted 23.4 % of Iberdrola's total production last year. Mexican and Brazilian combined cycle generation totalled 17,874 GWh, 22.9 % more than the previous year, representing 92 % of the energy generated by Iberdrola in Latin America.

Iberdrola's Mexico assets have total installed capacity of 2,696 MW, while the company's Brazilian assets have 1,063 MW. The company is building two additional plants in Mexico: the 1,121 MW Altamira V plant that will come online in November 2006; and the 1,135 MW Tamazunchale plant scheduled to begin operations in June 2007.
Iberdrola's current Mexico assets include combined cycle plants Monterrey III (1,040 MW), Altamira III and IV (1,036 MW), and La Laguna II (500 MW), which began operations in 2005. The company also operates the Enertek cogeneration plant (120 MW) and is the largest producer of electricity in the country.

Furthermore, Iberdrola has taken the first steps to install renewable energy sources in the region by developing wind projects in Mexico's southern Oaxaca state with capacity of 150 MW as well as a 6.4 MW wind park in Brazil's northern Rio Grande do Norte state.
Iberdrola's global net profit rose 15.6 % to EUR 1.38 bn ($ 1.66 bn) in 2005 compared to 2004, while its Ebitda increased 16 % to EUR 3.38 bn.