in News Departments > New & Noteworthy
print the content item

Spain-based Iberdrola has announced that it is exiting the German wind energy market and has sold its remaining assets in the country to Germany-based utility MVV Energie AG.

Under the recently signed agreement, Iberdrola sold seven onshore wind farms, all located in Germany, to MVV. The projects have a total installed capacity of 62.9 MW.

In addition, Iberdrola will transfer to MVV 100% of the shares of Iberdrola Renovables Deutschland GmbH, owner and operator of four wind farms totaling 37.4 MW, and 100% of the shares of Windpark Julicher Land GmbH, which owns three wind farms with a capacity totaling 25.5 MW.

Iberdrola says the sale is part of its 2012-2014 plan to divest “non-core businesses.” The transaction is subject to regulatory approvals.

The company also says it will continue its divestment program in the coming months, with the goal of reinforcing the group’s financial strength by reducing debt, improving financial ratios and maintaining its credit rating.



Trachte Inc._id1770
Latest Top Stories

Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.

Renewable NRG_id1934
Canwea_id1984
Hybrid Energy Innovations 2015