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Iberdrola takes control of biggest Greek wind developer
1 April 2007
Spanish utility Iberdrola has taken majority control of Greece's top wind plant owner, Rokas, after buying an additional 2.8% of the company, raising its ownership stake from 49.9% to 52.7%. Iberdrola is now required, under Greek law, to launch a public offer for the rest of Rokas' shares, according to Athens news agency reports. Rokas operates 193 MW in 13 wind plant, has 14 MW building and a development pipeline of 474 MW, 295 MW in Greece and 179 MW in Cyprus. The company, also a contractor for electro-mechanical projects, reported a turnover of EUR 50.2 million for last year and a profit of EUR 16 million. Aside from its stake in Rokas, Iberdrola operates a further 21 MW in Greece.
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