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Greencoat Capital is among the bidders for a multi-billion-pound stake in the UK’s 9GW nuclear fleet, the Telegraph has reported.
According to sources quoted by the national newspaper, the firm is planning to create a new investment fund with the aim of acquiring a minority share in eight nuclear power stations from EDF Energy and Centrica.
EDF Energy currently owns of four fifths of the fleet, with the remaining fifth held by Centrica.
Centrica chief executive Ian Conn announced plans in June 2018 to offload the company’s entire stake by 2020. EDF Energy said it was “considering different options” for its share but remained committed to maintaining “control and majority ownership”.
The following month, China General Nuclear Power Corporation and three international banks were reported to be preparing bids for a 49 per cent interest in the portfolio.
According to the latest story from the Telegraph, EDF Energy and Centrica have assembled a team of financiers to conduct the sale, which remains in the initial stages.
Potential bidders are understood to have taken part in an early auction round last week to gauge their interest. Sources told the newspaper there is no clear front-runner at the moment.
EDF Energy, Centrica and Greencoat Capital have all declined to comment.
Greencoat Capital operates several renewable energy funds including Greencoat UK Wind and Greencoat Solar. It currently manages around £2 billion of assets.
Earlier this year, Greencoat UK Wind agreed to pay Blue Energy £45 million for a subsidy-free wind project in Scotland.
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