French power producer GDF Suez has raised £90 million for its UK wind assets and also sold half its share from its portfolio.
The company won a 14-year financing from Bank of Tokyo-Mitsubihi UFJ, Sumitomo Mitsui Banking Corporation and Germanys KfW.
It has also sold 50% of its 70MW wind assets – which includes seven projects in England and Scotland – to a fund managed by Equitix Ltd. It will however continue as the operator of the wind farms.
Steve Riley, CEO and President of GDF SUEZ Energy UK-Europe said: “We are pleased with these important milestones in the evolution of our UK renewables portfolio.
“The funds generated by this transaction will enable us to accelerate the development of new renewables projects in the UK.”