EDF has announced that it is selling a majority stake in five of its UK onshore wind farms.
The French energy giant said that the sale to Greencoat UK Wind, the green investment vehicle, would enable it to release equity to invest in other renewable projects across Britain.
The wind farms included in the transaction are:
EDF Energy Renewables will continue to own a 20 per cent share in the wind farms and run the sites through its company’s services business EDF ENS UK. It will also 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.”
EDF Energy Renewables operates more than 696 MW of wind farms, has more than 260 MW under construction and has more than 545 MW consented, 170 MW in planning and 950 MW in development.
Together with its services arm, it employs more than 170 people.