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EDF Energy Renewables sells stake in UK wind farms

CTBR Staff Writer Published 02 November 2017

EDF Energy Renewables has agreed to sell 80% of stake in five wind farms totaling 96.4MW in the UK to Greencoat UK Wind.

The deal, as per the company is consistent within its CAP 2030 renewable energy strategy and supports the development of renewable portfolio in the UK. EDF plans to invest money from this transaction in other renewable projects across the country.

EDF Energy Renewables CEO Matthieu Hue said: “This deal is part of EDF Group’s strategy to allow us to invest in other UK renewables projects. We look forward to working closely with Greencoat UK Wind PLC.” 

“We have an ambitious development portfolio, which will help us deliver the low carbon electricity the country needs. This sale helps to support our ambitions and our delivery of new projects around the UK.”

The wind farms, in which EDF is selling stakes, include the 16.4MW Deeping St. Nicholas located in Lincolnshire, 12.3 MW Red House in Lincolnshire, 16.4 MW Glass Moor in Cambridgeshire, 24.6MW Red Tile in Cambridgeshire and 26.7MW Bicker Fen in Lincolnshire.

For the transaction, Greencoat UK Wind will pay £98m which includes £7m cash and working capital. The transaction is expected to increase Greencoat’s generating portfolio to 694MW. 

The wind farms are claimed to be within 25 miles of Peterborough and are comprised of 47 of Senvion’s 2.05MW MM82 turbines.

After the deal is completed, EDF Energy Renewables will continue to hold its remaining 20% stake in the wind farms. The company will also continue to run the sites and will provide all operations and maintenance requirements along with asset management services.