Spain’s largest utility Iberdrola (IBE. MC) has recently released in a report that it has managed to generate 15.4 percent more electricity in the first quarter of this year from the same period last year, mainly due to growth in hydropower.

According to the statement released by the company, it had generated 42,454 gigawatt-hours of electricity all over the world in the first three months of this year, of which hydropower totaled for 20.8 percent and which had increased by 135.1 percent, year-on-year.

The majority of Iberdrola's hydropower was generated in Spain, where reserves have soared after months of heavy rain.

Spain totaled to 51.1 percent of all electricity generated by Iberdrola in the first quarter. On the other hand, demand of the country’s power has been steadily recovering since December 2009, after a long recession period.

Meanwhile, the company has generators in countries like Britain, the United States and Latin America.

The company is due to post earnings for the first quarter on April 27. (IANS)