French electric utility company Electricite de France (EDF) is seeking to either sell stake or opt for a partial spinoff of its French distribution network Reseau de Transport d’Electricite (RTE) this year.

transmission

Bloomberg quoted people with knowledge of the matter as saying that it has been holding talks with advisers regarding the structure and timing of a potential deal, which may take the value of RTE to €15bn ($17.1bn).

However, a final decision is yet to be made and is dependent on EDF chief executive officer Jean-Bernard Levy, and the French government’s agreement to the terms.

RTE currently employs 8,400 people and operates over 104,000km of electricity lines across France.

The company is planning to commence formal process to break up or dispose parts of the unit by the end of 2015.

Meanwhile, EDF Group’s EDF Renewable Energy has commissioned the 200MW Hereford wind project in Texas, the US.

Located in Deaf Smith County, southeast of the town of Hereford, the project features 54 GE 1.85MW, and 50 Vestas V100 2.0MW wind turbine.

Power generated from the plant will be sold to Electric Reliability Council of Texas (ERCOT) power market and covered by a long-term, fixed-price hedge agreement for a portion of the expected energy production.

Image: EDF seeks options to either sell stake or partially spinoff its French distribution network RTE. Photo: courtesy of twobee/Freedigitalphotos.net.