The firm was the world's largest renewable energy firm:[1] it was the world's largest owner-operator of wind farms,[2] but also operated in the solar, hydro, biomass and wave power industries.

It started as a wholly owned business unit of Iberdrola under the name Iberenova.

The company was listed on the Madrid Stock Exchange in December 2007 in an initial public offering.

The operation totalled €5 billion, the largest placement ever made on the Spanish market by a new company.

[citation needed] The company joined the benchmark IBEX 35 index in a February 2008 reshuffle.