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Iberdrola to shed European assets  

Credit:  Windpower Monthly, 08 October 2012, 2:03pm | www.windpowermonthly.com ~~

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.

Source:  Windpower Monthly, 08 October 2012, 2:03pm | www.windpowermonthly.com

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 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 to query/wind-watch.org.

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