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Power firm buys into European wind energy
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International Power (IP) has made a significant move into the renewable energy field with the €567m (£379m) purchase of wind farms in Germany and France.
The British company, which operates six domestic gas and coal-fired power plants, has bought the 436MW of wind capacity from Christofferson Robb & Company (CRC).
“This acquisition provides us with an immediate, scale renewable business in Europe, together with a significant pipeline of development opportunities,” said Philip Cox, the chief executive of IP.
“We look forward to working with CRC to grow the portfolio and enhance the renewables skill base within our business,” he added.
Up till now IP has owned only one wind farm with 46MW capacity at Canunda in southern Australia.
By Terry Macalister
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