Recs

1

GE Energy Division to Take 40% Stake in French Wind Farms

On Wednesday, General Electric (NYSE: GE  ) announced that a consortium comprised of its Energy Financial Services group (GEEFS), the asset management arm of Munich Re and ERGO (MEAG), and EDF Energies Nouvelles is buying 32 French wind farms from Iberdrola.

All 32 onshore wind farms are operational, and boast a combined 160 wind turbines with total capacity of 321.4 megawatts, selling this electricity under long-term contracts with subsidies from France's feed-in tariff.

The transaction is valued at 350 million euros ($463.4 million), with a possible "earn-out" of up to 50 million euros ($66 million) additionally if the assets hit certain production targets over the next five years.

Upon the transaction's completion and assuming regulatory approval, GEEFS will own 40% of the assets, MEAG 40%, and EDF Energies Nouvelles 20%. EDF Energies Nouvelles will be responsible for operating and maintaining the wind farms. GE will provide new technology to boost the turbines' efficiency.

link


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2175657, ~/Articles/ArticleHandler.aspx, 8/3/2015 1:04:03 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

Today's Market

updated 2 days ago Sponsored by:
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASD 5,128.28 -0.50 -0.01%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

7/31/2015 4:00 PM
GE $26.10 Down -0.02 -0.08%
General Electric C… CAPS Rating: ****

Advertisement