EDF discussing sales of 49% stake in UK wind farm portfolio
The French state-owned energy firm, EDF, has announced that it is in talks to sell almost half of its stake in its UK wind business.
The firm is discussing the sale of a 49% stake in its onshore and offshore wind portfolio, the Financial Times reported.
The company’s UK portfolio consists of 23 onshore wind farms and one offshore wind plant.
Barclays has been hired by EDF to advise on the sale of what is anticipated to be worth £600mn (US$806.5mn).
“EDF's planned sale of 49% of its UK wind portfolio probably stems from the changing nature of wind power over the past few decades,” commented Richard Nicholls, Director at Brook Green Supply, a gas and electricity supplier specialising in UK businesses.
“Onshore wind generation is no longer a nascent technology. Increasingly we’d expect to see a growing number of non-energy focussed investors taking on more exposure to these projects.”
"We don't expect this to have an impact on the supply of energy for customers in the short to medium-term.”
“This sale is reflective of a broader shift towards more diverse ownership of renewable assets within the market which we think will be beneficial for competition.”
All but two UK regions failing on school energy efficiency
Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.
Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.
According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.
Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.
“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."
He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."
North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).
The Department for Education has issued 13 tips for reducing energy and water use in schools.