RWE gets new cash for renewables from wind farm sale

November 12, 2013 by  
Filed under Green Energy News

ESSEN, Germany, Nov. 12 (UPI) — German energy company RWE’s chief executive officer said bringing new investors to wind farms in Great Britain will raise cash for renewable energy projects.

Hans Bunting, the chief executive officer, said the company sold off a 49 percent stake in its Lindhurst wind farm, located in Mansfield, England, and its Middlemoor wind farm, near Alnwick in Northumberland, to Greencoat U.K. Wind.

“Together with Greencoat U.K. Wind, we are continuing to progress one of our key strategic objectives of opening up our projects to investors and raising additional capital for the progression of renewable energy in Europe via attractive investment models,” he said in a statement Monday.

RWE said the sale generated $112.9 million in new capital it would reinvest in other renewable energy projects. The company provided no information about how it would designate the new capital.

Through the acquisition, Greencoat has investments in 10 British wind farms with a net power capacity of 184 megawatts. RWE is involved in four of those as the operator.

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