Insurance arm Crédit Agricole Assurances has agreed to buy thehalf share in Futures Energies Investissement Holding (FEIH), a subsidiary ofGDF-Suez.
The utility said the sale will allow it to cut its debt by about€400m ($550m) after completion, scheduled for the first quarter of next year –and help it move forward with plans to expand its total French onshore windcapacity to more than 2GW by 2016 from a current 1.2GW.
A statement said: “This transaction inaugurates an ambitiouslong-term partnership with the objective of expanding the wind energy assetportfolio of FEIH.”
GDF-Suez will lead development and construction of future windfarms under the FEIH banner, with Credit Agricole Assurances brining its cloutas a “top-flight investment partner”.
GDF-Suez is also heavily involved in the development of Frenchoffshore wind,...
