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EDF Energy Renewables Sells Stake In Three Uk Wind Farms To CGN

Thursday December 18th 2014

According to Energy Voice, EDF Energy Renewables has sold a majority stake in three of its UK onshore wind farms to China General Nuclear Power Corporation (CGN).

The corporation said that money from the sale will be used to make more investments into  renewable projects in the UK.

It will continue to own a 20% share in the three onshore wind farms (Green Rigg, Rusholme and Glass Moor II) which will involve running, maintaining and operating the sites and providing asset management services for the new owners.

EDF Energy chief executive Vincent de Rivaz said: “This deal is part of our continuing strategy to release capital to allow the development of other renewables projects in the UK.

“CGN made the best offer in a highly competitive auction and the deal shows their commitment to the UK and the strong relationship EDF Group has with them.

“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.

“We have built up close ties with the communities around these sites and we will remain responsible for all aspects of their operation.”

Source: https://www.energyvoice.com/otherenergy/71022/edf-energy-renewables-sells-stake-three-uk-wind-farms-cgn/