China General Nuclear Power Group Buys 14 Wind Farms in Ireland, Northern Ireland

Yicai

2016-12-09

(Yicai Global) Dec. 9 -- The renewable energy investment arm of China General Nuclear Power Group, a major Chinese state-owned power provider, has concluded a deal to buy 230,000 kilowatts of wind energy assets from Ireland's Gaelectric Holdings Plc.

The 14 wind farms are in the Republic of Ireland and Northern Ireland, Dublin-based Gaelectric said in a statement posted on its website. No further details were provided.

"We are very pleased to have concluded this agreement with Gaelectric for the purchase of an excellent portfolio of operating wind energy assets in Ireland," said Wei Lu, CEO of Paris-based CGN Europe Energy SAS.

"This will be CGNEE's first acquisition in the energy sector in Ireland," Wei said. "CGN Group is focussed on becoming a global leader in clean energy. These high quality wind energy assets will make an important contribution towards this objective for CGN Group."