EDF Renewables has offloaded 49% stakes in 24 of its UK wind farms with a combined capacity of about 550MW, including the 62.1MW Teesside offshore project, to Dalmore Capital and Pensions Infrastructure Platform.
The French company said the deal is worth £701m, with the money to be used to develop more renewable energy projects.
EDF will hold the majority share in the wind farms and will continue to operate and and maintain the projects.
Onshore wind farms included in the deal are the 177MW Dorenell project in Moray, the 47.5MW Corriemoillie plant in the Highlands and the 38MW Longpark facility in the Borders, all of which are in Scotland.
The remainder are located in England, Scotland and Wales.
EDF Energy chief executive Simone Rossi said: “We are delighted to welcome Dalmore Capital and Pensions Infrastructure Platform as key partners in the UK.
“It helps us to continue to invest in more renewables capacity and to extend our operating expertise. We look forward to working with our new partners as we contribute to the UK’s clean growth strategy.”
Dalmore Capital chief information officer Alistair Ray said: “Dalmore, on behalf of its investors, which include over 2 million UK pensioners, is very pleased to have led this acquisition to become a partner with EDF.
“We look forward to working in partnership with EDF in delivering clean energy for the UK.”
Pensions Infrastructure Platform chief executive Mike Weston said: “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.”
Image: Teesside offshore wind farm (EDF)
EDF offloads UK wind stakes
By EBS