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Bewag cancels plans to divest wind division
1 March 2008
Austrian energy firm Bewag, 51% owned by the state of Burgenland, has cancelled plans to part-divest its subsidiary Austrian Wind Power (AWP). The company operates 138 turbines with a combined generating capacity of 242 MW in Austria and has set up subsidiaries in the Czech Republic, Croatia, Hungary, Italy, Slovakia and Poland for project development. In November, Bewag announced it intended to reduce its share in AWP by selling off 49% of the company, one of a number of measures to raise funds for expanding other activities at home and for its "internationalisation and growth strategy." An EU-wide bidding procedure was to be launched this year, but before 2007 was out, Bewag had abandoned the plan, apparently bowing to political protest against part-sale of the profitable company.
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