EDF to buy majority stake in onshore wind developer

EDF to buy majority stake in onshore wind developer

EDF’s renewable arm has confirmed plans to buy a majority stake in an onshore wind power developer.

EDF Energies Nouvelles said it has reached a full and final agreement with the shareholders of FUTUREN to buy a 67.2% interest in the company.

FUTUREN has operations in France, Germany, Italy and Morocco and currently operates around 745MW of assets in those countries.

Antoine Cahuzac, EDF Group’s Senior Executive Vice President for Renewable Energy said: “The coherence between EDF Energies Nouvelles’ and FUTUREN’s activities will help to strengthen EDF Group’s major strategic goals in renewable energy.”

The deal remains subject to the approval of the German competition authority.

Source: Energy Live News

Author: Priyanka Shrestha

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