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Statkraft to divest 49% in UK wind park portfolio.

MANews-(C)2009-2014

31 July 2014 - Norwegian power producer Statkraft AS said today it had inked a deal to sell a 49% interest in a portfolio of onshore wind farms in the UK to Gingko Tree Investment Ltd for an undisclosed sum.

Statkraft noted it will hold a 51% stake in a new firm, called Wind UK Invest Ltd, that will hold three UK wind parks with a combined gross installed capacity of 142MW. In turn, Gingko Tree will get a 49% stake in the holding company.

The Norwegian utility will continue to manage and operate the plants following the transaction.

On 27 June, Statkraft said it had sealed a NOK2bn (USD318m/EUR 238m) deal to divest its Finnish hydropower operations to a local consortium comprising Finnish firms Vantaan Energia Oy, Turku Energia Oy, Oulun Energia Oy, Pori Energia Oy and Oulun Seudun Sahko Verkkopalvelut Oy.

Country: UK

Sector: Wind Power

Target: Wind UK Invest Ltd

Buyer: Gingko Tree Investment Ltd

Vendor: Statkraft AS

Type: Divestment

Status: Agreed

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Publication:M & A Navigator
Geographic Code:4EUUK
Date:Jul 31, 2014
Words:168
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