Sponsorship of sailing is a no-brainer for sustainable energy companies, particularly those who are investing in wind energy. Reports today that the Spanish electricity company Iberdrola, who sponsored the America’s Cup team Desafío Espanol in the last campaign, will acquire the shares held by Pedro Camps, Jose Cusí, Real Federation de Vela and Caja Madrid.
Iberdrola President, José Ignacio Sanchez Galan has made it clear that he sees ties to sailing as important to the green energy company and will, personally, oversee the Desafío project. Earlier this year, the world’s ‘largest sustainable energy operator’ which also owns Scottish Power in the UK prevented the team from competing in the Louis Vuitton Pacific Series on the grounds that the Spanish fans would not be interested in an event in New Zealand.
While an Iberdrola sponsored team has competed in recent TP52 competitions, the America’s Cup will continue to be the main focus for Desafío, especially if Valencia is confirmed as host city for the next multi-challenger event. However, Iberdrola recognises that America’s Cup plans cannot go ahead whilst the present legal battle is ongoing. A decision on the type of interim events that Desafío will contest will be made during the next month.
Breaking News: Desafio may quit the America’s Cup and focus on the Volvo Ocean Race. This makes a lot of sense, given the large role that Spain will play in the future of the round the world event.