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United Kingdom

Chinese nuclear firm buys UK wind

UK: China General Nuclear Power (CGN) is to acquire majority stakes in three UK wind projects from EDF, its first move into the European wind market.

The Glass Moor II project is included in the sale
The Glass Moor II project is included in the sale

The company (formerly China Guangdong Nuclear Power Group) will buy 80% of the three projects which have a combined capacity of 73MW.

EDF will retain a 20% holding in all of the developments, and will continue to operate and buy the power from the projects.

CGN will pay more than £100 million for the 36MW Green Rigg project near Newcastle, 24.6MW Rusholme development near York, and 12.3 MW Glass Moor II wind farm near Peterborough.

The company is one of China's largest nuclear energy generators, but also has an operating wind portfolio of around 2.4GW in China (Windpower Intelligence). It also owns the 15MW Mortons Lane wind project in Australia.

While this is CGN's first acquisition of a European wind project, the company did sign an agreement in 2013 with French energy company Areva to develop offshore wind power in China and Europe. There have been no further details about this since it was first announced. 

In 2012, Portuguese generator EDP sold a 49% stake in its renewable energy wing to China Three Gorges. And earlier this year, Statkraft sold a 49% stake in its 142.2MW UK onshore wind portfolio the UK investment arm of China's State Administration of Foreign Exchange, Gingko Tree Investment.

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