PGE, Energa to take control over 100% in Iberdrola Renewables Polska

Jun 25, 2013 - Polish energy groups PGE (WAR:PGE) and Energa SA are about to take control over 100% of Iberdrola Renewables Polska – the Polish green energy division of Spanish power utility Iberdrola (MCE:IBE), PGE said in a press release.

More precisely, 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 266.5m).

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 1.313)

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