Iberdrola to put new U.S. renewable-energy projects on hold

11/28/2012 | SNL Financial (free content)

Spain's Iberdrola is not planning to embark on new renewable-energy projects in the U.S. once it completes its current projects, and will instead focus on its network business. "For us, unfortunately the renewables business in the U.S. is stopped," said Ignacio Cuenca, director of investor relations. The uncertainty over the wind-energy Production Tax Credit, coupled with cheap natural gas, is making it "a very, very difficult situation," Cuenca said.

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