WPD 'ponders equity sale'
German developer could sell $1bn stake or whole business, says news report
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.