EDF Energy Renewables has sold a majority stake in five English wind farms to investment outfit Greencoat in a £98m deal.
The utility developer will retain a 20% stake in the portfolio, which comprises the 16.4MW Deeping St Nicholas (pictured), 12.3MW Red House, 16.4MW Glass Moor, 24.6MW Red Tile and 26.7MW Bicker Fen.
Projects are in Lincolnshire and Cambridgeshire within 25 miles of Peterborough and all feature Senvion MM82 turbines.
The deal “will release equity” for investment in other EDF projects, said the French company.
EDF will continue to run the sites and via its EDF ENS service business will provide O&M and asset management. It will also buy all electricity produced.
Chief executive Matthieu Hue said: “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.”
Image: EDF
