The company concluded a two-year leasing agreement for a 350-sqm area in an office building on Polona street, No 95-99 (photo), said the real estate consultant, CBRE|Eurisko, leasing agent.

“Together with our colleagues in Spain, we have identified the best solution for Iberdrola’s offices in Romania, thus completing a new cross-border transaction”, said Anca Paun, broker at CB Richard Ellis|Eurisko’s commercial department.

Iberdrola is among top four largest electricity utilities in the world by market cap. In first quarter, its net profit dropped to 792.9 mln euros, versus 1.2 bn euros a year earlier.

More than half of the company’s electricity output is produced outside Spain, especially in UK. The company has recently boosted electricity output by 4% in first quarter.