Fund manager Dalmore Capital and Pensions Infrastructure Platform now own a minority stake in 23 onshore projects in England, Scotland and Wales, as well as in the 62.1MW Teesside site off England’s north-east coast.
EDF Renewables retains a 51% share in the 24-project portfolio and will continue to operate and maintain the sites.
The developer’s parent company EDF Energy, meanwhile, will continue to purchase all of the electricity and renewable obligation certificates (ROCs) generated by the wind farms on "standard market terms".
The only project in the portfolio not supported by ROCs is its largest site, the 177MW Dorenell wind farm, which is under construction in northern Scotland. It was awarded support under the UK's contracts for difference (CfD) scheme in 2015.
EDF Renewables stated the investment enables it to continue to develop more renewable energy projects.
Bruno Bensasson, group executive vice-president in charge of renewable energies at EDF, added the deal was in line with the company’s CAP 2030 strategy.
The strategy sets the target of increasing EDF’s installed renewable capacity from 28GW in 2016 to 50GW by 2030.
The company currently operates more than 786MW of UK wind farms, and has more than 1GW of consented projects, including the controversial Neart na Gaoithe offshore project.
EDF sold an 80% stake in five UK onshore wind farms with a combined capacity to investment firm Greencoat in November 2017.
In June 2018, it sold a 50% stake in a 588MW US renewables portfolio, including two wind projects with a combined capacity of 354MW, to Dutch pension fund PGGM.
.png)
.png)
