Iberdrola denies holding talks to sell Romanian windfarm project to Sinovel - Reuters

The information published in Spanish daily El Economista earlier on Tuesday is not true, Reuters quoted a spokesperson for Iberdrola as saying.

According to the news report in El Economista, Iberdrola was preparing to sell the wind power project to Sinovel as part of a 4 billion euro ($5.2 billion) divestment plan aimed at cutting company debt.

Sources close to the situation had told El Economista that such negotiations were underway but said that Sinovel has still not placed a binding offer as it was seeking a partner for the project.

The wind power complex, located in southern Romania, is projected to supply electricity to one million households but Iberdrola has installed just 80 MW of its design capacity so far.

Iberdrola plans to present its balance sheet for the third quarter of 2012 as well as its divestment plan on Wednesday.