December 8, 2016 / 11:58 AM / a year ago

BRIEF-Chinese nuclear group CGN buys part of Gaelectric's Irish wind portfolio

BEIJING, Dec 8 (Reuters) - China General Nuclear Power Corp (CGN) announced on Thursday that its French subsidiary has acquired part of Irish renewable energy company Gaelectric’s wind portfolio:

* Paris-based CGN Europe Energy SAS (CGNEE) bought 230MW of wind energy assets from Gaelectric Holdings plc, CGN said in a statement.

* It did not disclose how much it had paid, but claimed the deal was the biggest investment by a Chinese company in Ireland by far.

* The wind assets comprise 10 operating wind farms with capacity of 184 MW. A further four wind farms, or 46 MW, is set to operate by mid-2017, Gaelectric said in a separate statement.

* “The portfolio is sufficient to meet the electricity needs of around 120,000 homes, avoiding greenhouse gas emissions of the equivalent of around 250,000 tonnes of CO2,” said Gaelectric’s CEO Barry Gavin.

* CGNEE has made several moves in the renewable energy market this year. In July, it won the tender, along with French group Eolfi, for a floating offshore wind power project off the island of Groix, in Brittany, France. In September it bought Belgium’s largest onshore wind farm, Esperance, and in November CGNEE bought 90 percent of shares in a 44MW Senegal solar project from Malicounda.

Reporting by Muyu Xu and Beijing newsroom; Editing by Susan Fenton

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