MADRID, March 26 (UPI) -- Spain's Iberdrola Renovables acquired a 49-percent interest in wind-power firm Eolica 2000.
The wind firm is developing a 32.3 megawatt wind farm in Spain's northern coastal region of Cantabria.
Iberdrola said it still has the option to purchase an additional 2 percent interest.
Construction on the first phase of the Canoneras wind farm in the Soba district has already started with an installed capacity of 17.85 megawatts.
The second stage is under development and is expected to add another 14.45 megawatts.
The wind farm will be the first operated by Iberdrola Renovables in the Cantabria region though the energy giant already has four mini-hydro plants with a total capacity of 14 megawatts.
Iberdrola is also working on a wave energy plant in the Cantabrian town of Santona that is expected be able to generate 1.39 megawatts when it's completed.
