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China snaps up UK wind farms

London - China's largest nuclear power producer will buy an 80% stake in three British wind farms run by a unit of EDF, says the French energy giant.

China General Nuclear Corporation beat bids from several other generators for the wind farms near York, Newcastle and Peterborough in eastern England, the Financial Times had reported earlier, citing industry experts.

"Following a competitive auction process, EDF Energy Renewables has sold a majority stake in three of its UK onshore wind farms to China General Nuclear Power Corporation," a statement confirming the deal said.

The Chinese group will pay EDF more than 126m, the FT said, quoting analysts' estimates, adding that the three wind farms generate enough electricity to power almost 40 000 homes.

"This deal is part of our continuing strategy to release capital to allow the development of other renewables projects in the UK," said EDF Energy chief executive Vincent de Rivaz.


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