Big wind developer formed

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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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