Iberdrola (BMAD: IBE) has reported a net profit rise of 1.3 per cent for 2012 and has also seen its application for a 288 MW wind farm in Scotland gain approval.

The Spanish utility, while not doing so well on the home front, has seen its foreign operations contribute significantly, enabling it to post a profit of $3.8bn, up from the  $3.7bn posted in 2011.
Iberdrola turbine
Spain itself is still suffering the effects of recession and that’s evident by the .36 per cent drop in profit for the company in the domestic market.

Iberdrola has also seen its Scottish Power unit win approval for the Kilgallioch wind farm at South Ayrshire in Scotland.

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