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Iberdrola says 'au revoir' to French wind farms in 350m deal

2013-01-03 01:05:00| Climate Ark Climate Change & Global Warming Newsfeed

BusinessGreen: Energy giant Iberdrola has sold 32 French onshore wind farms in a deal worth at least EUR350m to a consortium of investors consisting of EDF, Munich Re and General Electric (GE). The deal, announced on Monday, will see Iberdrola sell more than 320MW of operational wind farm capacity, as part of its ongoing strategy to boost its balance sheet through the sale of assets in "non-core" businesses. GE's Financial Services arm and MEAG, the asset manager of Munich Re and ERGO, will each own 40 per...

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