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 | French GDF Suez to give up 60% stake in Canadian wind, solar projects  | |
MENAFN -
- 17/12/2012
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(MENAFN) French utility firm GDF Suez unveiled plans to sell a 60 percent stake in its Canadian wind and solar projects, as it seeks to cut its debts, Reuters reported.
Japan's Mitsui and Fiera Axium Infrastructure are buying the stake, which has an enterprise value of USD1.97 billion.
GDF will remain a minority shareholder and operate the wind and solar parks, which will generate 680 megawatts of power in British Columbia, Ontario, New Brunswick and Prince Edward Island once completed.
The projects include already operational wind farms with a capacity of 363 megawatts, and a further 317 megawatts of wind and solar capacity expected to start operating between 2013 and 2014.
The deal will reduce GDF Suez's net debt by USD1.32 billion, the company said.
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