October 15, 2012 / 7:11 AM / 5 years ago

Poland's PGE drops plan to buy windfarms in Germany, UK

WARSAW, Oct 15 (Reuters) - Poland’s top utility PGE has scrapped plans to acquire wind energy projects in Germany and Britain, the group’s Chief Financial Officer Wojciech Ostrowski said.

“We reached a conclusion that these projects do not generate higher returns than similar projects in Poland,” he was quoted as saying by energy portal cire.pl.

Sources told Reuters in December last year that PGE was eyeing takeovers of wind farm projects in the North Sea worth around 200 million euros ($259 million) in total. ($1 = 0.7712 euros) (Reporting by Maciej Onoszko; editing by Keiron Henderson)

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