EDF Energy Nouvelles has confirmed a final deal to take a majority stake in onshore wind energy developer Futuren.
Subject to approval by the German competition authority, the French utility will take 61.6% of Futuren’s ordinary shares and 96.0% of its convertible bonds.
Futuren said its board had unanimously agreed to accept the offer, which will pay €1.15 a share.
Futuren chief executive Fady Khallouf said the deal reflected the company’s rise as a profitable industry operator over the last six years.
“The offer fully acknowledges this success while foreseeing the growth in momentum already built up,” he said.
EDF Group’s Renewable Energies senior executive vice president Antoine Cahuzac said the group was delighted the offer had been accepted.
“Coherence between EDF Energy’s and Futuren’s activities will help strengthen EDF Group’s strategic deals in renewable energy,” Cahuzac added.
Futuren currently operates 745MW of onshore wind assets in Germany, France, Morocco and Italy.
Image: EDF
