French utility Electricite de France (1024251.FR) may take a stake in Centrica PLC's (CNA.LN) wind farms and other assets as part of its GBP11 billion-plus bid to purchase nuclear power generator British Energy PLC (BGY.LN), The Daily Telegraph reports Monday, citing a source.
"Centrica needs partners on other projects, and I see no reason why EdF shouldn't get involved in these," the source told the newspaper. "The bulk of Centrica's contribution to the BE deal will be cash but EdF is certainly interested in its wind portfolio, along with other assets."
Centrica, the U.K.'s biggest wind farm investor, wants a 20% to 25% stake in British Energy through an investment vehicle with EdF, but wants to avoid spending GBP3 billion in cash needed to buy a stake in the nuclear power generator, The FT reports. Centrica has plans for a GBP3 billion expansion of its alternative energy projects, specifically wind farms, the newspaper says.