EBRD invests EUR 125mn in Iberdrola windfarm in Hungary, Poland.

By bne IntelliNews January 18, 2010
The EBRD board of directors approved the subscription of EUR 125mn capital increase in the Hungarian and Polish subsidiaries of Spanish renewable energy company Iberdrola Renovables, the EBRD announced. Consequently, the bank would acquire 25% stake in the two units after the completion of the legal side of the transaction. The Hungarian branch operates one windfarm and the Polish four. The aggregate capacities of the five facilities totals 211MW. Iberdrola Renovables plans the construction of two more windfarms in Hungary and one windfarm in Poland with combined capacity of 98MW. The investment of the bank aims to promote renewable energy and specifically, to support the implementation of the development strategies of the two subsidiaries. Another objective is also to support Hungary and Poland in achieving an increase in the share of energy, generated by renewable sources.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Assets of Hungarys investment funds up 3.2% m/m in Feb 2013.

Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more

Hungary's number of employees down 0.6% y/y in Jan 2013.

The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more

Hungarys MVM clears deal for purchasing E.ONs local units.

The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    8 days ago
  4. Don't mention the "D" word - Ukraine
    5 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss