Iberdrola Requests Permission to Close Two Thermal Plants

By Alberto Delclaux Features Dow Jones Newswires

Iberdrola SA (IBE.MC) said Friday that it had asked for authorization from the Spanish energy ministry to close two thermal plants in Spain, with a combined capacity of 874 megawatts.

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The dismantling process will last four years from the approval date and will require an investment of around 35 million euros ($40.7 million), Iberdrola said.

The company also said it would relocate the 170 workers who currently work at the plants in Asturias and Palencia.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

November 10, 2017 09:28 ET (14:28 GMT)