Project Development, Wind Power

Vattenfall Acquires AMEC Wind Energy

Vattenfall AB, the fifth largest electricity generator in Europe, announced that is has acquired 100% of AMEC Wind Energy Limited, a major UK developer of commercial wind farms for cash consideration of approximately US $221.72 million.

AMEC Wind owns one of the largest wind development portfolios in the UK with a potential capacity of 573 megawatts (MW). Its onshore portfolio in the UK represents 6.5% of UK approved and in-development onshore projects, while its Scottish onshore portfolio represents 9.9% of Scottish approved and in planning onshore projects. If all of these projects are completed, the net annual production of the portfolio would be approximately 2 terawatt-hours.

“This is an excellent deal for both AMEC and Vattenfall. We are delighted to be working with Vattenfall as they build their position in the UK wind energy market. This is an area of national importance and together we look forward to making a significant contribution towards the UK’s targets for energy from renewable sources,” said Samir Brikho, AMEC’s CEO.

Vattenfall and AMEC also announced that they have entered into a strategic alliance to develop energy projects with increased efficiency and lower carbon emissions. The alliance comes in addition to a framework agreement between the firms aimed at developing the existing wind projects in the AMEC portfolio and to develop new wind projects in the UK.