Chinese nuclear power firm acquires majority stake in Swedish windmill project

Source:Global Times Published: 2018/7/17 22:28:40

CGN Europe Energy Co, a subsidiary of China's State-owned nuclear power firm China General Nuclear Power Group (CGN), has acquired a 75 percent stake in a huge windmill project in Sweden, according to a statement from CGN on Tuesday night.

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

The CGN statement did not disclose further details about the stake transfers, the amount of money involved or future plans for the project, which is still under construction.

The North Pole project is expected to have 179 wind turbines that will deliver 650 megawatts of power, and is said to be the largest single-site onshore wind installation in Europe. It could provide power for 400,000 families.

The project is expected to start operation at the end of 2019.

Posted in: COMPANIES

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