The firm will acquire 80% stake in the wind projects located close to York, Newcastle and Peterborough, according to a report by the Financial Times, which cited people with knowledge of the matter.
The remaining stake will be retained by EDF, which will continue to operate the turbines.
This deal marks China General Nuclear Power Corp’s entry into Europe’s renewable-energy market.
CGNP is China’s biggest nuclear power generator.
This deal may help the talks involved in construction of the Hinkley Point nuclear project, which will be built by EDF by 2023, according to the report.
At the end of August 2014, CGNP operated 5GW of wind farms in addition to 500MW of solar power and 1.47GW of hydro power.
The Chinese company’s power unit commenced trading last week after it sold 8.83 billion shares at HK$2.78 each. This is considered to be Hong Kong’s biggest initial public offering in about two years.
