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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)

Source:  Polskie Radio, www.thenews.pl 21 November 2011

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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