U.S. Gives Grants to Spanish Energy Company

The Obama administration has set aside more than $500 million for the economic stimulus of renewable energy development projects, and Spanish company Iberdrola SA will receive the largest portion of these funds. Iberdrola SA will receive $236 million to build wind farms throughout Texas, Oregon, and Minnesota, while a Pennsylvania wind project will receive $59 million.
 
In all, twelve different projects will receive a portion of the funds, with 59 percent of the money going to Iberdrola’s various projects throughout the three states. This money, which comes from a $3 billion fund that the Obama administration set aside for economic recovery, …read more