Dong and Iberdrola reportedly set to quit Poland

Dong Energy and Iberdrola (IBEX 35:IBE) are about to end operations in Poland according to reliable sources.

The FT reports that the move takes place as Poland Poland prepares to update its renewable energy sector regulations, with a draft bill that favours offshore wind power generation over onshore facilities, an initiative strongly criticised by the wind industry.

The Times quotes one source as saying that the departures are down to debt reduction issues rather than Polish government policy.

“Dong’s decision is part of a deleveraging,” they said. “When it comes to Iberdrola, they have wanted to sell their portfolio for some time.”

Neither Iberdrola nor Dong responded to requests for comment.

Dong has three wind farms with 111.5MW of installed capability, about 7 per cent of Poland’s 1.6GW of wind-generating capacity, while Iberdrola has 185MW of windmills.

Poland generates about 90 per cent of its power with coal, but has committed to generating 15 per cent of its electricity through renewables by 2020. Renewables now account for about 8 per cent of power generation, with wind accounting for just under 2 per cent.

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