Energa Buys Wind Energy Developments From Polish Energy Partners

Energa SA, Poland’s fourth-largest utility, signed a preliminary agreement to buy rights in a wind farm site from Polish Energy Partners SA, a project developer.

The final contract will be signed by the end of 2013, said Magdalena Zdziech-Sobotkowska, a spokeswoman for PEP said by e-mail today.

The 38.7 million Polish zloty ($11 million) Miloradz wind-farm site in northern Poland will be sold through a special purpose vehicle, Pepino Ltd., with most of the price paid when the sale is finalized and the rest due when the site receives a government license to produce energy, wire service SeeNews reported.

Poland’s supply of wind energy could exceed demand at slack times by 2014, according to national grid operator PSE-Operator SA. Total capacity is currently 2,300 megawatts and is expected to exceed 5,500 megawatts in the next three years.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE