Spanish Wind Firm Cleared to Buy Energy East
In recent years, Iberdrola has aggressively expanded into the United States. In May, the company said it would invest $8 billion in renewable energy in the United States from 2008 to 2010, doubling its wind-energy capacity.
By the end of the first quarter of 2008, Iberdrola's U.S. wind farms totaled a capacity of 2.4 gigawatts. The company said it planned to increase the capacity to 3.6 gigawatts by the end of this year.
Editor's note: Do you to need to expose your investment portfolio to wind industry growth, but don't know where to start?
In "How to Outperform the Market and Manage Risk With ETFs," Scott Rothbort writes that you can use an industry-specific exchange-traded fund (ETF) as a "placeholder" as you do the necessary homework on individual stocks. The First Trust ISE Global Wind Energy Index Fund (FAN) and the PowerShares Global Wind Energy Portfolio (PWND) are two wind-focused ETFs.Iberdrola (as covered in this article) is one of the top individual stock holdings in the PowerShares wind ETF. To hear about the First Trust wind ETF from Robert Carey, chief investment officer at First Trust, play the video below:
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV