China's CGN to buy three small UK wind farms from EDF: source

Resource from: Reuters Likes:188

Jan 06,2015

(Reuters) - Chinese utility China General Nuclear Power Corporation (CGN) will buy three small UK onshore wind farms with a combined capacity of 73 megawatts from French state-controlled utility EDF (EDF.PA), a source familiar with the matter said on Monday. Confirming a report in the Financial Times, the source said CGN would buy three farms from EDF Energy Renewables, a 50-50 joint venture between EDF's UK unit EDF Energy and EDF's renewables unit EDF Energies Nouvelles. The source declined to comment on the price, which the FT said analysts estimated at more than 100 million pounds (126 million euros) for an 80 percent stake in the three sites near York, Newcastle and Peterborough. EDF Energy Renewables, which employs more than 80 people, operates 539 megawatts of wind capacity on 27 sites, which are all onshore, with the exception of the 62 megawatt Teesside offshore wind farm, the company said on its website. The company has onshore projects totaling around 1000 MW in development.

(Reuters)

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