Poland - EDP buys Polish wind power firm for 54 mln euros

Energias de Portugal (EDP) has bought a Polish wind energy company, Relax Wind Parks, for 54 million euros, EDP said on Wednesday. Relax Wind Parks has a portfolio of projects, in different stages of development, equivalent to total gross capacity of 1,022 mega watts. The purchase includes an additional success fee of 40,000 euros per mega watt. The first wind farm in the portfolio, with a capacity of 120 mega watts of installed capacity, is expected to start operating in 2009. The remaining farms should start operations between 2010 and 2013, EDP said.

"This operation is a natural fit to EDP's strategy for renewable energies," EDP said. "The company's entry into the Polish market for renewable energies allows the creation of an additional growth platform and of a starting point for the expansion of this business into Eastern Europe."

EDP is the world's fourth largest wind power company, with wind farms in Portugal, Spain, France, Belgium and the United States.