China’s State Development and Investment Group (SDIC) is reportedly considering a sale of its renewable energy assets in the UK, according to Bloomberg.
The publication reports that the company, which develops wind farms in the UK through Edinburgh-based subsidiary Red Rock Renewables, has appointed a financial advisor to explore a potential disposal.
No final decision on the sale has been made.
People familiar with the matter estimate the projects, which include a stake in the under-construction 1.1GW Inch Cape wind farm off east Scotland (pictured), could fetch between £500m and £700m, according to Bloomberg.
Red Rock Renewables owns the operational 50MW Afton and in-construction 67MW Benbrack onshore wind farms in Scotland, as well as a 50% stake in Inch Cape and 25% ownership of the operational 588MW Beatrice, also off Scotland.
Red Rock Renewables declined to comment.