Iberdrola Renovables Takes Part In Massive Brazil Wind Tender

Spanish renewable energy company Iberdrola Renovables SA (IBR.MC) Monday will participate in a massive tender to build and run wind farms in Brazil.

National Electric Energy Agency, or Aneel, of Brazil later Monday will hold an auction for 339 projects capable of generating more than 10,000 megawatts of power in Latin America's biggest country.

An Iberdrola Renovables spokeswoman early Monday couldn't say exactly how much generation capacity the company will bid for. Officials at other Iberian renewable power heavyweights EDP Renovaveis SA (EDPR.LB) and Acciona SA (ANA.MC) weren't immediately available for comment.

The Brazilian tender is one of the biggest around at the moment and most wind players will have an interest in it, said Dirk Schnitker, a trader at CM Capital Markets in Madrid.

Unlike in Spain, where the recession has strangled electricity demand, Brazil currently needs all the generation capacity it can get, Schnitker said.

Iberdrola Renovables is a unit of Spanish power utility Iberdrola SA (IBE.MC), and the world's biggest wind-power generator.

Company Web site: http://www.iberdrolarenovables.es

-By Bernd Radowitz, Dow Jones Newswires, [phone], [e-mail];

(Jeff Fick in Rio de Janeiro contributed to this report)