China’s biggest nuclear power generator is preparing to enter Europe’s renewable energy market, snapping up three UK wind farms from French utility EDF in a signal of its intent to build a global generating business.
The move by state-owned China General Nuclear Corporation (CGN), set to be announced today, would be its first acquisition of onshore wind generating capacity in the west.
The deal also highlights how Chinese companies are investing more in Britain. China’s state companies have bought stakes in sectors from food to travel since British prime minister David Cameron visited Beijing on a trade mission last year.
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