EDF confirms sale of majority in 73-MW wind portfolio to CGN

Dec 16, 2014 - EDF Energy Renewables said yesterday it had sold, after a competitive auction process, 80% stakes in 72.9 MW of UK wind farms to China General Nuclear Power Corp, CGN, thus confirming media reports.

The Electricite de France (EPA:EDF) subsidiary did not disclose the value of the transaction but said it will use the funds for additional investments in renewable energy schemes in the UK.

"EDF and CGN have worked together for 30 years and are engaged in ongoing discussions for the UK’s first nuclear power station for a generation at Hinkley Point in Somerset," noted EDF Energy CEO, Vincent de Rivaz.

As part of the wind deal, EDF has sold the majority stakes in three onshore wind parks near York, Newcastle and Peterborough, keeping a 20% interest for itself. It will continue to maintain and operate the facilities and provide asset management services for CGN. The French utility will keep purchasing the output of the three parks.

The 36-MW Green Rigg wind farm near Newcastle consists of 18 turbines, while the 24.6-MW Rusholme plant in the south-east of York has 12. THe 12.3-MW Glass Moor II facility near Peterborough uses six turbines. The three wind parks can together generate enough electricity to supply almost 40,000 households.

EDF Energy Renewables is a joint venture between EDF Energy and EDF Energies Nouvelles.

Choose your newsletter by Renewables Now. Join for free!