Global advancement in Energy Investments
The global leader in wind power producer, Iberdrola of Spain recently announced that
it would invest around 4.8 billion Euros that is about 6.14 billion dollars in Britain and around two-thirds of the above amount in Scotland within the year 2012. In the forth coming years the company's commitment towards Scotland will be increased after the visit of Alex Salmond, the first Minister of Scotland who will come to the headquarters, which is located in Bilbao at the Northern Basque region of the Spain. Iberdrola will serve as a booster for elating the Basque Country and Scotland; these two places are very significant for the company and is the base for the future projects. Iberdrola released a large amount for intelligent electricity grids, wind power, carbon dioxide capture and storage facility in Scotland.
Around 25 percent of the Europe's tidal resources, wind recourses and wave potential take place in Scotland and the company has more than 1800 skilled workers in Scotland including the enhancing Scottish Coal and Pelamis Company. In February Iberdrola announced that it is going to make energy investments around 4.5 billion Euros in Britain and United States to receive 7.0 billion from the total of 18 billion Euros. A female spokesperson of Iberdrola announced that the around 18 billion Euros to be invested in Britain's energy investments due to better investment chances and Britain is one of the primary area for the investment followed by the United States. Within the next decade Britain should interchange almost its nuclear power plants and senescing coal-fire. With the help of renewable energy sources Britain plans to generate around 35 percent of the total electricity used by the country within the next decade.
In India recently the finance minster with signed a three-party agreement with the World Bank and Small Industries Development Bank of India to provide assistance for the small industries in energy investments and flourish energy projects. The project is worth around $11.3 million and the aim of the project is to enhance the energy efficiency demand and provide investments to small and mid capital industries. The project is accomplished by the end of the year 2014 and the venture includes enhancing energy efficiency investments, building capacity and creating awareness, management of knowledge and sharing. The power tariff will be reduced for Mumbai and it will be on act from the first of September 2010, due to the increase in the annual revenue of Reliance Infrastructure which is owned and managed by Anil Dhirubhai Ambani.
Global advancement in Energy Investments
By: Stuart Slater
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