Iberdrola wind farm sale

SCOTTISHPOWER’S Spanish parent Iberdrola has sold all its wind farm investments in Poland in a 840 million Polish zlotys (£174m) deal, which effectively takes the mooted disposal of a stake in its UK distribution business off the table.

The sale takes Iberdrola disposals since the start of 2012 to €1.1 billion (£950 million) out of a target of €2bn by the end of 2014.

It underlines comments by Iberdrola chairman Ignacio Galan earlier this month that the company does not plan to sell a stake in its British distribution or transmission networks.