Iberdrola Renewables launches €175 million share tender offer for Rokas

Iberdrola hopes that authorization for the transaction from the Greek stock market regulator comes by the end of this month and will extend the acceptance period until Mid September. The hope for Iberdrola is that this transaction will further push it towards achieving it's strategic objective of obtaining a presence in strategic markets, and further consolidating that lead. At the moment the company has an installed capacity of 124 MW in Greece. If the transaction is successfully completed Iberdrola will increase this to 220 MW. Already in 2004 Iberdrola acquired 21% of ordinary shares in the Rokas Group and has steadily raised its stake since then. The Rokas group at current has 193.3 MW of wind power capacity spread across 13 farms.

Iberdrola wants to play a leading role in the markets which offer the best conditions and growth prospects. Currently it is first in Spain and Greece and in second place in the United States and the United Kingdom.

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