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.

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