Spain

Spain

Iberdrola to shed European assets

SPAIN: The world's top wind owner, Iberdrola, has contracted Italian bank Banca Leonardo to study and arrange the sale of its combined 550MW of onshore wind assets in France, Germany and Poland, according to reports in the Spanish press.

Iberdrola's decision was leaked to financial newspaper Expansión ahead of the company's end-October presentation in London of a new business strategy aimed at reducing a €32 billion corporate debt. Iberdrola did not respond to Windpower Monthly's questions on the matter.
 
The utility, already in a process of non-strategic asset shedding, will focus its wind business on three strategic markets where it also has other extensive generation and distribution interests: Spain, UK and USA, according to the leaks.
 
Nevertheless, Iberdrola will reportedly maintain all offshore wind projects, as a strategic technology, including extensive portfolios in Germany and France.  It will also continue developing onshore in emerging markets, such as South Africa.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Windpower Monthly Events

Search more than 4,500 companies in the Windpower Directory

Latest Jobs