China's CGN invests in UK wind farms run by France's EDF

15th December 2014, Comments 0 comments

China's largest nuclear power producer will buy an 80 percent stake in three wind farms run by French energy giant EDF, Financial Times reported Monday.

China General Nuclear Corporation (CGN) beat bids from several other generators for the wind farms near York, Newcastle and Peterborough, the report said, citing industry experts.

The Chinese group will pay EDF more than £100 million (126 million euros, $157 million), the FT said, quoting analysts' estimates, adding that the three wind farms generate more than 70 megawatts of electricity, enough to serve nearly 40,000 homes.

© 2014 AFP

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