The renewable arm of China General Nuclear Power Group (CGN) is set to acquire 14 Irish wind energy plants from Gaelectric.
The $373 million deal will be the company’s first acquisition in Ireland’s energy sector and will involve 10 operating wind farms and four wind farms that will become operational in mid-2017.
“CGN Group is focussed on becoming a global leader in clean energy,” according to Wei Lu, chief executive of CGN Europe Energy. “These high quality wind energy assets will make an important contribution towards this objective for CGN Group.”
According to officials, Gaelectric will continue to manage the windfarms on behalf of CNGEE.
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