Banco Santander’s €199 million electricity bill

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SPAIN’S Banco Santander SA, Europe’s biggest bank, have plans to sell its only Australian wind farm which has cost them €199 million ($280 million Aus), according to reports from Reuters.

Santander is looking for a buyer for the 106.8-megawatt Taralga wind farm it is developing in New South Wales, an unofficial source told Reuters.

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The source reported that total funding of €199 million was arranged for the project when Santander bought 90 per cent of it two years ago. They also said Santander wanted to sell for a number of reasons, one of which was political deadlock in Australia over how much of the country’s energy should be renewable by 2020. The person didn’t disclose any other reasons for the pull-out plan.

Reuters tried to contact a Santander spokesperson, but they could not immediately be reached for comment.





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