EnergyBusinessReview.com, August 12, 2008
Spanish utility Iberdrola Renewables S.A. has been awarded the license to market natural gas in Portugal’s liberalized energy market by the country’s Directorate General of Energy and Geology, with support from the Portuguese Ministry of Economy and Innovation.
Pursuant to the terms of this authorization, Iberdrola will be able to import, export and market natural gas and liquefied natural gas (LNG), as well as buy and sell natural gas wholesale and sell it to the Portuguese retail clients.
Iberdrola hopes to become one of the operators of reference in Portugal’s gas market with the chance to take advantage of the market’s incipient liberalization, which began in July 2007.
The Spanish utility, which is already present in the areas of generation and marketing of electricity and renewable energies in Portugal, is also taking a further step in order to strengthen its presence in the country’s energy market. Iberdrola is also promoting the construction of an 850MW combined cycle power plant in the locality of Figueira da Foz and hopes to obtain the definitive award to carry out work for the 1,134MW Alto Tamega hydroelectric complex.