GDF Suez sells UK wind share

GDF Suez has raised £90m ($149m) of project finance and sold a 50% stake in a 70MW UK portfolio, comprised of seven operating wind farms located in England and Scotland. 

The project financing, with a 14-year term, has been provided by Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation and Germany's KfW.

France's GDF Suez signed the agreement to partially sell its share in the UK wind portfolio to a infrastructure investor fund managed by Equitix, but will remain the operator of the portfolio and retain the remaining 50% equity interest.

The majority of electricity generated by the seven projects is contracted under 15-year power purchase agreements (PPA).

The UK wind portfolio includes the Carsington, Crimp, Flimby, and Sober Hill developments in England, and the Barlockhart, Blantyre and Craigengelt plants in Scotland, commissioned between 2010 and 2014.