Infinis Energy has agreed to sell its hydro assets in Wales, UK, in deals totalling £20.5m.
The energy firm has agreed to sell the majority of its sites, totalling 14MW, to Dwr Cymru Welsh Water, with the remainder, equalling 3MW, to H20 Power Limited.
In a statement, Infinis said it was selling its hydro business as it considered it ‘non-core’ due to its size and the fact that limited investment has been made in developing the portfolio further. It said it will use the proceeds of the hydro sale to further develop the growth of its onshore wind portfolio in line with its existing strategy.
The sale, expected to close next month, is subject to approval of Welsh Water’s lenders
