filed: November 21, 2011 • Poland

Major stake in Poland’s wind farm sector up for grabs

Credit: Polskie Radio, www.thenews.pl 21 November 2011 ~~

A fifty percent stake in Poland’s largest company specialising in the construction of wind farms is up for the taking after the firm run up huge debts.

Two firms with stakes in Warsaw-based ECO-WIND Construction are attempting to sell off their shares in the company.

The major stake, some 41 percent, is being sold off by Trakcja-Tiltra, which is currently struggling with debts.

According to the Parkiet business daily, Trakcja-Tiltra, which predominantly deals in railway-track construction, hopes to raise 100 million zloty (22.5 million euro) from the sale.

Its debts are currently evaluated at some 300 million zloty (67.6 million euro).

Likewise, Spanish-owned firm Comsa Emte, which has a 9 percent stake, is shifting its attentions to other branches of the construction industry.

Meanwhile, one figure who is unlikely to invest in the sector is Britain’s Prince Philip.

It was reported yesterday that the 90-year-old royal described wind farms as “absolutely useless,” much to the ire of those in the industry. (nh/pg)

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