 Spain Power Grid Can Feed 10 Million Electric Cars-Iberdrola ChairmanFeb 9, 2010 - Dow Jones Spain's electricity system can supply power to some 10 million electric cars if charging were to be made at night when general demand is low, Ignacio Galan, chairman of electricity company Iberdrola SA (IBE.MC), said Tuesday. A gradual buildup of an electric car fleet will help the European Union to reach its targets for greenhouse gas emission cuts and renewable power penetration, he added. Galan spoke during a meeting with European Union competition ministers in the northern Spanish city of San Sebastian, Iberdrola said in a release. The EU targets to cut greenhouse gas emissions until 2020 by 20% from 1990 levels, and wants renewables to provide 20% of the union's overall power supply in 2020. Galan cautioned, however, that electric cars still need to overcome hurdles related to batteries, the buildup of a recharge system, and regulation. If electric cars were to be charged at night, they could help the penetration of renewable power, Galan said. Spain has one of the world's highest percentages of renewable power as part of overall electricity production. Iberdrola, based in Bilbao, northern Spain, is the world's biggest wind-power generator. Company Web site: http://www.iberdrola.com -By Bernd Radowitz, Dow Jones Newswires, +34-91-395-8125, bernd.radowitz@ dowjones.com 
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