IBERDROLA, through its IBERDROLA US subsidiary, plans to invest around $250 million in new infrastructure to enhance its distribution network in the city of Rochester and west of Monroe county. It will be the company’s largest investment in this area.

This plan, which IBERDROLA just submitted to the New York State Department of Public Service, includes the construction of a new, 1.9 mile-long 345 kilovolt (kV) line; the construction of a new substation; the replacement of 2.5 miles of power lines adjacent to the railroad line; the development of two 115 kV power lines; and the enlargement and upgrade of three substations.

This project forms part of the investment plans of the IBERDROLA US subsidiaries Rochester Gas & Electricity (RG&E) and New York State Electric & Gas Corporation (NYSEG), and entails a total outlay of $1.3 billion to enhance the infrastructure of the state of New York in the 2010-2013 period in order to meet increasing demand and to improve the quality of the service.

The Company expects to start construction of these facilities in the spring of 2013 and to finish in the winter of 2014, once the Public Service Commission approves the project.

IBERDROLA in the US

IBERDROLA, through its North American subsidiary, provides service to around 2 million customers in the states of New York and Maine. The Company has earmarked roughly $6 billion for investment in projects to improve quality of supply and to build new wind farms in 2011 and 2012.

IBERDROLA's main project in the US is the construction of the macro interconnection line in the state of Maine between the US and Canada, which will require an investment of $1.4 billion and cover a distance of 800 kilometres. The company will also develop a smart network that will provide service to the 620,000 customers of the Central Maine Power (CMP) subsidiary. This project has a budget of $166 million, largely covered ($96 million) by the grants received from the US Department of Energy.

In renewable energy, IBERDROLA has installed more renewable energy capacity in the US than any other company in recent years, and now controls 11% of the country's total wind energy capacity. The company has 4,805 megawatts (MW) of installed wind capacity in the US.