Iberdrola completes sale of wind energy business in Poland

Aug 1, 2013 - Spanish power utility Iberdrola (MCE:IBE) said in a regulatory filing today that it had closed the sale of its wind energy business in Poland.

Polish energy groups PGE (WAR:PGE) and Energa SA took control over 100% in Iberdrola Renewables Polska, the Spanish firm said.

At end-June, the two companies reached an agreement to acquire the last 25% they had not owned in Iberdrola Renewables Polska from the European Bank for Reconstruction and Development.

In February PGE and Energa bought the first 75% from Iberdrola for some EUR 203 million (USD 268.7m).

Iberdrola Renewables Polska is currently operating five wind farms in Poland with a total capacity of 184.5 MW, plus other wind power assets.

(EUR 1.0 = USD 1.324)

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