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French and British investment funds buy wind plant owner Séchilienne-Sidec
1 September 2005
Around 63% of the shares in French power generator Séchilienne-Sidec have been offloaded to investment firms in two separate deals. Séchilienne-Sidec holds a 40% interest in France's largest wind power installation, the 37.5 MW Haute-Lys plant in the northern Pas-de-Calais department. Air Liquide, a French producer of gases for industrial and medical use, has sold its 39.5% stake in Séchilienne-Sidec to capital investment firm, Apax Partners France, while power producer SNET has agreed to sell its 23.62% holding to Ecofin, a British investment fund specialising in utilities. Both sellers say they want to concentrate on their core businesses activities. Séchilienne-Sidec's main activities are in coal and biomass, although it has some interests in the wind sector. As well as its stake in the Haute-Lys plant, the company holds siting permits for a further 30 MW, mostly in north-eastern France.
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