The renewable energy arm of EDF – the nuclear-dominated French generator
– has sold a 49% stake in its portfolio of UK wind-farms to a pension fund
manager for £700 million.
EDF said the money from the sale to Dalmore Capital Limited and Pensions
Infrastructure Platform – with investment from large U.K. local authority
pension schemes – will enable it to continue to develop further renewable
energy electricity generating assets.
EDF Renewables will continue to own a 51% share in the portfolio of wind
farms. It will also continue to run the sites and to provide operations and
maintenance requirements as well as asset management services.
EDF Energy will also continue to purchase all of the electricity and ROC’s
generated by the wind farms on market standard terms.
The community benefit fund arrangements associated with each wind farm will
remain unchanged.
The Scottish wind farms included in the sale comprise:
Corriemoillie (47.5.MW) Highlands
Longpark (38 MW) Borders
Burnfoot Hill (26 MW) Clackmannanshire
Burnhead Moss (26MW) Falkirk
Pearie Law (19.2MW) West Lothian
Rhodders (12.3 MW) and Burnfoot North (4.1MW) – Clackmannanshire, and
Dorenell ( 77 MW) – Moray.
Bruno Bensasson, chief executive, EDF Energies Nouvelles, said: “In this
high growth renewables sector, such partnerships are important to allow
investment in new projects such as our recent acquisition of the 450 MW
Neart Na Gaoithe offshore wind farm project in the Firth of Forth.
“We are particularly committed to continuing the growth of our renewables
business in Scotland, including the Neart Na Gaoithe offshore wind farm
project.”
Mike Weston, chief executive, Pensions Infrastructure Platform, added:
“Pensions Infrastructure Platform is delighted to be making this investment
on behalf of a large UK local authority pension scheme.
“This partnership with EDF in a significant renewable energy venture will
help our investor meet its pension obligations and contribute to reducing
the UK’s carbon emissions.”
EDF operates more than 786-MW of wind farms (including 319 MW in Scotland)
plus the 177MW Dorenell wind farm (under construction) and more than 1 GW
of consented projects in development including Neart Na Gaoithe and the
controversial new wind farm plan for the Isle of Lewis.
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