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Big wind developer formed
1 January 1999
Major utiltiy PowerGen is joining forces with the Abbot Group, an oil services conglomerate, to create one of the UK's largest wind farm development and operation companies. Abbot is paying £5.35 million for 50% of the PowerGen subsidiary, PowerGen Renewables Ltd. The two companies are to pool their wind farm assets: PowerGen owns seven UK wind farms and has a portfolio of sites under development; Abbot owns a 2.25 MW wind farm at Blood Hill in Norfolk. Both companies have an interest in the planned offshore wind farm on Scroby Sands, Norfolk. The joint venture -- which will continue to be called PowerGen Renewables -- will develop and operate wind farms on land and offshore. PowerGen's Mike Pollack says Abbot's offshore experience will complement PowerGen's operating and development knowledge.
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