in News Departments > FYI
print the content item

Iberdrola says it has reached an agreement to sell all of its wind power assets in Poland to Polish energy companies Energa Hydro (a subsidiary of Energa) and Polska Grupa Energetyczna (PGE) for approximately 203 million euros.

The sale comes just a week after Denmark-based DONG Energy sold its Polish wind energy business to Energa and PGE.

Iberdrola's Polish wind energy assets are grouped by Iberdrola Renewables Polska, which holds 75% of the capital. The holding company, whose remaining 25% equity is held by the European Bank for Reconstruction and Development, owns five operating wind farms in Poland with a total of 184.5 MW of installed capacity, plus a wind project pipeline also in Poland.

This transaction, which is subject to the applicable approvals, is part of Iberdrola’s plan to divest approximately 2 billion euros’ worth of non-core businesses and markets over the period between 2012 and 2014.

The company has sold approximately 1.1 billion euros’ worth of non-core assets since the beginning of 2012, including the recently announced sale of 32 operating onshore wind farms in France to EDF Energies Nouvelles, MEAG, ERGO and GE Energy Financial Services, as well as its seven operating wind farms in Germany to MVV Energie AG, through its subsidiary MVV Windenergie GmbH.

Previous transactions include the sale of U.S.-based companies The Energy Network (owner of Hartford Steam) to Energetix and NYSEG Solutions to Direct Energy; all its gas distribution assets in Spain (Madrid, Murcia and Valencia); its 13.25% stake in Gas Natural Mexico; most of its shares in telecommunications operator Euskaltel, where it still holds a 2% stake; and the sale of GH Electrotermia.



Trachte Inc._id1770
Latest Top Stories

Quebec Government Postpones Wind Power RFP; No New Date Scheduled

The request for proposals (RFP) is part of an overall 800 MW wind power tranche that will serve as a bridge to the next phase in the province's energy future.


Setting The Record Straight: How Many Birds Do Wind Turbines Really Kill?

Several peer-reviewed studies are more or less in agreement with avian mortality rates caused by wind turbines. However, one study, which is wildly off from the others, is most often cited in the media. Why?


Six Takeaways From The IRS' Start Of Construction Guidance: What You Need To Know

The IRS recently issued guidance to wind developers to further spell out what "start of construction" means. Will you be covered?


Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.

Renewable NRG_id1934
Canwea_id1984
UnitedEquip_id1995
Tower Conference_id1965