EDF sounds out bidders for a 49% stake in its wind farm business
Category: #world  By Saipriya Iyer  Date: 2018-05-21
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EDF sounds out bidders for a 49% stake in its wind farm business

EDF Energy, an integrated French energy firm headquartered in the UK, is apparently trying to raise funds through the sale of nearly 49% of its stake in its wind farm business. For the record, the firm is one of the country’s largest power providers and owns twenty-three onshore farms and one offshore farm in the UK.

The power-generating firm in the UK is known to be the largest producer of low carbon emitting power across the Scotland region. Reportedly, it has hired the services of Barclays to sell nearly half of its EDF Energy Renewables for raising nearly £600 million.

Endowed with a history of using the revenue accrued from its already completed ventures to fund new ones, it is quite likely that the EDF Energy will use the proceeds generated from this sale to invest substantially in some of its future projects. It may also be plausible that the firm, which is leading an £18 billion undertaking for constructing a nuclear power unit at Hinkley in Somerset, will fund the project through the proceeds of its stake sale of the wind farm unit.

Earlier this month, the UK headquartered firm had acquired the Neart na Gaoithe wind farm off Forth Estuary in Scotland, a £1.8 billion wind farm with the ability to produce 450 MW of renewable power, from Mainstream Renewable Power, a key player across the global energy sector based in Dublin.

Simone Rossi, the chief executive officer of EDF Energy, had earlier stated that the purchase of the wind farm justified the firm’s conviction of continually investing in Scotland for expanding its business in the region. However, at the SCDI Forum held last month in Edinburgh at Scotland, he did mention that the government of the UK does not provide enough support for the onshore wind energy ventures across the country, which may prove to be dangerous for the nation’s energy sector.



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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