EDF Energy Renewables sells majority stake in five UK wind farms
EDF Energy Renewables is selling a majority stake in five of its UK onshore wind farms.
This financial deal fits with the EDF Group’s CAP 2030 renewable energy strategy and supports its ambitious development portfolio in the United Kingdom, a strategic market for the Group.
The sale to Greencoat UK Wind PLC will release equity from the wind farms for EDF Energy Renewables to invest in taking other renewable projects forward in the country.
The wind farms included in the transaction are:
• Deeping St. Nicholas (16.4MW) – Lincolnshire
• Red House (12.3 MW) – Lincolnshire
• Glass Moor ( 16.4 MW) – Cambridgeshire
• Red Tile (24.6MW) – Cambridgeshire
• Bicker Fen (26.7MW) – Lincolnshire
EDF Energy Renewables will continue to own a 20% share in the wind farms. It will also continue to run the sites and, together with the company’s services business EDF ENS UK , will provide all the operations and maintenance requirements as well as asset management services.
EDF Energy will continue to purchase all of the electricity and ROC’s generated by the wind farms.
All other operational aspects, including the community benefit fund arrangements associated with each wind farm, will remain unchanged.
Matthieu Hue, CEO of EDF Energy Renewables 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 built close ties with the communities around these sites and we know they value industry partners they can work with over the long term. That’s why it is important to us to continue to run the wind farms and maintain local relationships. Our commitment to areas around these sites remains and community funds stay exactly the same as before.
“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.”
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