Stockholm, Sweden, Oct. 7, 2008 — Vattenfall AB announced the acquisition of 100 percent of AMEC Wind Energy Ltd. (AMEC Wind), a UK developer of commercial wind farms, for a cash consideration of over $218 million.
Vattenfall and AMEC have also entered into an alliance in the development of energy projects with increased efficiency and lower carbon emissions in addition to a framework agreement with the aim to develop the existing wind projects in the AMEC portfolio being acquired by Vattenfall and to develop new wind projects in the UK.
Vattenfall is Europe’s fifth largest generator of electricity and the largest producer of heat and works in all parts of the electricity value chain. Vattenfall aims to produce approximately 50 TWh from wind power by 2030. The target is climate neutrality by 2050.
In the UK Vattenfall owns and operates the Kentish Flats offshore wind farm, which has a capacity of 90 MW, and has recently announced its firm intention to make an offer to acquire Eclipse Energy which is currently developing several wind projects in the UK with the potential of over 200 MW from renewable energy.
AMEC Wind owns a large wind development portfolio in the UK with a potential of 573 MW.
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