08 Feb 2017 – French energy major EDF [EPA:EDF] is to launch the sale of a majority stake in a portfolio of its UK onshore wind farms, two sources briefed on the matter said.
The sale is expected to come to market in the next two months, the sources added. EDF is expected to sell an 80% stake, the first source said.
EDF will run the sale itself and will not hire advisers, the sources said.
The portfolio has an installed capacity of about 100 MW, the sources said. It includes three wind farms in Cambridgeshire that were put on sale in 2016 in a process that was subsequently pulled because EDF was focusing its efforts on the Hinkley Point C nuclear project, the sources added.
EDF declined to comment.
The Cambridgeshire wind farms are Red Tile, with an installed capacity of 24 MW and 12 turbines; Glassmoor, with 16 MW and eight turbines; and Glassmoor Extension, 12.3 MW and six turbines.
In the UK, onshore wind typically has a deal size of about GBP 2m per MW, the second source noted. These wind farms, however, are fairly old – built between 2006 and 2013 – and so are likely valued less than this, the source added.
EDF has a market capitalisation of EUR 19.16bn.
by Katie McQue