CHINAUS AFRICAASIA 中文双语Français
Business\Companies

China firm may bid on wind farms

Updated: 2017-08-18 10:01

Hong Kong / London - China Resources Power Holdings Co and Aviva Plc are among companies considering bids for Norwegian utility Statkraft AS stakes in its offshore wind farms in the United Kingdom, sources familiar with the matter said, amid a surge in interest for Europe's green energy assets.

Macquarie Group Ltd and Copenhagen Infrastructure Partners K/S are also weighing offers, the sources, who did not want to be identified, said.

Statkraft is aiming to sell the assets for $1 billion to $1.5 billion, according to one source. Bidders may only be willing to pay about $750 million to $1 billion for the two stakes, two of the sources said.

No final decisions have been made, and the companies could still decide against a bid, they added.

A spokesman for Statkraft said the company couldn't comment on an ongoing process, beyond saying that it hoped to wrap up a sale "around New Year's."

A representative for Macquarie declined to comment, while representatives for Aviva, China Resources Power and CIP didn't immediately respond to requests for comment.

Statkraft, the Norwegian state-owned energy company, is selling its 40 percent holding in the UK's Sheringham Shoal wind farm and its 30 percent stake in the Dudgeon project.

The company decided in 2015 to halt new investments in offshore wind power, which it deemed too capital intensive. Chief Executive Officer Irene Egset said in July that a process to divest wind assets had begun.

The company is running separate sale processes for the stakes, but interested buyers can bid for both. Statkraft is believed to be seeking binding offers by early November.

Any deal would add to the $6 billion of acquisitions announced this year targeting European alternative energy assets, according to data compiled on the sector. Wind-related businesses have proven popular with bidders, as countries in the region push for greater reliance on renewable energy sources.

Bloomberg

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US