Both Iberdrola and SSE may consider adding partners to the venture in the future.
Iberdrola Renewables is the second largest developer of wind power projects in the United States.
BBC: Wind power deadline sees US firms rush to build turbines
Endesa will buy Iberdrola on condition that both firms sell generating assets to Repsol.
Its UK business, which is mainly Scottish Power, is now the biggest contributor to Iberdrola earnings outside Spain.
However the prospects for new turbines in 2013 are slim according to Paul Copleman, communications manager for Iberdrola.
BBC: Wind power deadline sees US firms rush to build turbines
The firm, owned by Spanish energy giant Iberdrola, will take on hundreds more engineers to improve its grid network.
That call was echoed by Ignacio Galan, Chairman of Iberdrola and Scottish Power.
Iberdrola said net group profit rose by 1.3% to 2.84bn euros last year, despite continued weakness in its home market.
"Having looked at how wind fits in the larger portfolio for Iberdrola, I would say Scottish Power looks very interesting, " he said.
Iberdrola said earnings in its Spanish networks and generation business had been hit by regulatory and tax measures, as well as lower production.
Iberdrola said the turbines would allow it to produce 2, 700 megawatts of power from its wind farm developments in Europe and North America.
It makes sense for Iberdrola to focus particularly on its home continent, since the European Union wants 12% of Europe's primary energy coming from renewable sources by 2010.
The fight between Repsol YPF , a Spanish energy concern, and Endesa , Spain's leading electricity provider, for the second-biggest generator, Iberdrola, has ended in a government-sanctioned settlement.
Spain -- where Iberdrola is headquartered -- is the eurozone's fourth-largest economy with unemployment at 26.1%, second only to Greece in the single currency bloc, according to Eurostat data.
It is Gas Natural's third attempt to hook up with a big partner in Spain's rapidly consolidating power industry, having been rebuffed by Endesa in 2005 and Iberdrola in 2003.
Pressure is mounting on utilities to find clean ways of making energy, and for those like Iberdrola that want to bolster their renewable portfolios, acquisitions are a quick and easy means.
Iberdrola has interests in seven nuclear power plants in Spain, while its subsidiary Scottish Power and SSE, formerly known as Scottish Hydro, are the main customer power supply companies in Scotland.
Spain's Iberdrola has already scaled back its capital budgets.
Iberdrola's renewable energy businesses also make up about 20% of its installed capacity, but it wants to ramp up its current production of 4, 000 megawatts by renewable means to 10, 000 by 2011.
Galan told CNN that today, less than 40% of the Iberdrola's business is dependent on the eurozone as the company diversifies its risk in other countries including the UK, U.S., Mexico and Brazil.
Iberdrola Renewables, a Spanish wind energy company with a presence in the United States, told Greenwire that were it not for the cash grant program, it would have invested outside of the United States.
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Ocean Power is working with Spanish utility Iberdrola, French oil giant Total and two Spanish government agencies for the first phase of a modest 1.39-megawatt facility--a decent-sized nuclear reactor pumps out 2, 200 megawatts--off the coast of Spain.
To do that it's been expanding into other countries on the renewables ticket, establishing wind farms in Germany, France and the U.S. So far this year, Iberdrola has acquired Community Energy in the United States, two wind farms in Britain, and it has signed a tentative agreement to build a 1, 000 megawatt wind farm in northern China.
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