Wednesday 18 July 2018

CGN buys majority stake in 650MW Swedish wind farm

CGN buys majority stake in 650MW Swedish wind farm

China General Nuclear Power Group (CGN) has bought 75% of a 650MW wind energy project in Sweden.

The firm's subsidiary CGN Europe signed an agreement with Australian energy company Macquarie Group and US-based General Electric to purchase the majority stake in the 'North Pole' project.

The facility will be made up of 179 wind turbines, which CGN says makes it the largest single-site onshore wind installation in Europe.

It is expected to be able to provide clean power for as many as 400,000 households and cut 750,000 tonnes of carbon emissions each year.

CGN has not yet disclosed the amount of money involved in the purchase or its future plans for the project, which is still under construction and not scheduled to start operation until the end of 2019.

Written by

Bruna Pinhoni

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