Iberdrola said that the price may be between E200 to E300 million, depending on the sites eventually acquired. The 50 projects include approximately 800 wind farm installation sites, which are in various phases of development. The first farms are expected to start operating in 2009.
Under the terms of the agreement, Eolica Dobrogea Schweiz will be responsible for developing the projects, including planning and obtaining construction permits. Once the promotion phase is completed, the wind farms will be built and operated by Iberdrola Renovables, which is then expected to achieve a leadership position in the Romanian renewable energy market.
With the acquisition of the wind energy assets in Romania, Iberdrola Renovables said that it has expanded its portfolio of projects to more than 43,500MW worldwide.
