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Amundi buys majority stake in gas-fired cogeneration plants in France
January 10, 2017 / 2:32 PM / 10 months ago

Amundi buys majority stake in gas-fired cogeneration plants in France

LONDON (Reuters) - A joint venture between asset management company Amundi (AMUN.PA) and French utility EDF (EDF.PA) has bought a majority stake in 132 gas-fired cogeneration plants in France for 150 million euros (131.02 million pounds), Amundi said on Tuesday.

The Amundi company logo is seen at their headquarters in Paris, France, October 7, 2015. REUTERS/Philippe Wojazer

Amundi Energy Transition bought the stake in the plants, which have a total capacity of 330 megawatts (MW), from Dalkia, a French energy services company which is also an EDF subsidiary, it said in a statement.

Cogeneration, also known as combined heat and power, can produce heat and electricity at the same time from the same facility.

Such plants can recover heat produced as a by-product of power generation and reuse it in industrial processes and to produce energy for hospitals and public housing.

Amundi Energy said it was also working on a second deal this year for a separate 170-MW group of Dalkia cogeneration projects which are currently under construction.

Reporting by Nina Chestney. Editing by Jane Merriman

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