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Fri12192014

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Onshore Wind

Iberdrola, Dong Energy sell wind assets in Poland

State-owned utilities PGE and Energa are buying several established wind farms in Poland from their foreign developers.

PGE and Energa have signed an agreement with Spain’s Iberdrola for the sale of all its wind power assets in Poland, grouped by Iberdrola Renewables Polaska, for approximately $268 million.

Iberdrola held a 75 percent stake in Iberdrola Renewables Polaska. The remaining 25 percent is held by the European Bank for Reconstruction and Development.

The Iberdrola agreement follows another deal that PGE and Energa came to with Denmark’s Dong Energy for its onshore wind business. Dong is selling its wind energy business in Poland for around 1 billion Polish zloty ($315.04 million).

This puts PGE and Energa in possession of five operating wind farms in Poland, with a total of 184.5 megawatts of installed capacity from Iberdrola and three wind farms with 111.5 MW of installed capacity from Dong Energy.

The two utilities will also own the wind project in the pipeline of Iberdrola and Dong Energy in Poland. For Dong Energy, that means a development portfolio of more than 700 MW.

Dong Energy had previously announced that they planned to divest some of their assets in the onshore wind sector in order to raise capital and to focus on the development, construction, and operation of offshore wind farms.

For Iberdrola, the sale of their Polish wind farms is in line with their 2012 to 2014 plan of divesting assets in non-strategic markets. – EcoSeed Staff



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