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Chinese buy stake in UK wind farms

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

The wind farms are:

  • Green Rigg – an 18 turbine, 36 Megawatt wind farm, 22 miles north-west of Newcastle upon Tyne
  • Rusholme – a 12 turbine, 24.6 Megawatt wind farm, 15 miles south-east of York
  • Glass Moor II – a six turbine, 12.3 Megawatt wind farm six miles south-east of Peterborough

As part of its obligation to supply energy from renewable sources, EDF Energy will continue to buy all of the electricity generated by the wind farms.

The utility will continue to own a 20% share in the three wind farms. It will also continue to run, maintain and operate the sites and provide asset management services for the new owners. Community benefits payments for each wind farm will also remain unchanged.

EDF Energy CEO 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.”

CGN Europe Energy CEO Wei LU said: “CGN is very happy to be able to implement the first investment of renewable energy in the UK. This is a good beginning of concrete co-operation between CGN and EDF in Europe. And we are proud to supply clean energy to British people.”

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