October 9, 2012
France, Germany, Poland

Iberdrola to shed European assets

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.

URL to article:  https://www.wind-watch.org/news/2012/10/09/iberdrola-to-shed-european-assets/