{"id":4330,"date":"2018-06-29T17:40:22","date_gmt":"2018-06-29T15:40:22","guid":{"rendered":"https:\/\/www.france.edf-powersolutions.com\/?p=4330"},"modified":"2024-01-04T17:31:01","modified_gmt":"2024-01-04T16:31:01","slug":"edf-renewables-signs-new-partnership-in-twenty-four-uk-wind-farms","status":"publish","type":"communiques","link":"https:\/\/france.edf-powersolutions.com\/en\/communiques\/edf-renewables-signs-new-partnership-in-twenty-four-uk-wind-farms\/","title":{"rendered":"EDF Renewables signs new partnership in twenty four UK wind farms"},"content":{"rendered":"

EDF Renewables welcomes a new partner in twenty four of its UK wind farms (c.550MW) as the sale of a 49% minority stake is agreed. The cash proceeds to EDF at close for the 49% stake are \u00a3701 million.<\/p>\n

The new partnership with Dalmore Capital Limited and Pensions Infrastructure Platform, with investment from large UK local authority pension schemes, will enable EDF Renewables to continue to develop further renewables energy.<\/p>\n

EDF Renewables will continue to own a 51% share in the portfolio of wind farms. It will also continue to run the sites and to provide operations and maintenance requirements as well as asset management services.<\/p>\n

EDF Energy will also continue to purchase all of the electricity and ROC's generated by the wind farms on market standard terms.<\/p>\n

The community benefit fund arrangements associated with each wind farm will remain unchanged.<\/p>\n

Bruno Bensasson, Group Executive Vice-President in charge of Renewable Energies and Chief Executive Officer of EDF Energies Nouvelles said: \u201cThrough its CAP 2030 strategy, the EDF group aims at doubling its renewable energy generation by 2030 to contribute to energy transition. In this high growth renewables sector, such partnerships are important to allow investment in new projects such as our recent acquisition of the 450 MW Neart Na Gaoithe offshore wind farm project in the Firth of Forth. This collaboration underlines the appeal of our business to investment partners.\u201d<\/p>\n

Simone Rossi, CEO of EDF Energy said: \u201cWe are delighted to welcome Dalmore Capital Limited and Pensions Infrastructure Platform as key partners in the UK. This is a positive step for the UK's low carbon ambitions and energy resilience. It helps us to continue to invest in more renewables capacity and to extend our operating expertise. With onshore wind, offshore wind and battery projects \u2013 including our newly inaugurated offshore wind farm off the Northumberland coast, and battery storage plant in Nottinghamshire \u2013 we are very pleased to play a major role in this growing part of the UK energy landscape. We look forward to working with our new partners as we contribute to the UK's clean growth strategy.\u201d<\/p>\n

Alistair Ray, CIO of Dalmore Capital said: \u201cDalmore, 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, a leading global utility, in this asset which makes a significant contribution to the UK's clean energy supply. We look forward to working in partnership with EDF in delivering clean energy for the UK.\u201d<\/p>\n

Mike Weston, CEO of Pensions Infrastructure Platform said: \u201cPensions 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.\u201d<\/p>\n

The wind farms included in the transaction are:<\/p>\n

Onshore ROC wind farms: (22)<\/em><\/strong><\/p>\n