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WPD 'ponders equity sale'

German developer could sell $1bn stake or whole business, says news report

WPD 'ponders equity sale' image

German developer WPD is seeking investors to take an equity stake worth at least $1bn or potentially acquire the whole business, according to media reports.

The Bremen-based company is considering options for its future development and its growing cash needs, a Bloomberg news story said citing unnamed sources.

WPD declined to comment, the report said, adding that the company's deliberations may not result in a sale.

WPD secured at about 1GW of capacity for two offshore wind projects off Taiwan in April.

The 650-700MW Yunlin project will be built first and is due to be commissioned in 2020-2021.

The 350MW Guanyin project will be commissioned in 2021.

WPD’s founders Gernot Blanke and Klaus Meier currently each hold 50% stakes in the company.

Image: WPD

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