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6 months ago
Amundi buys majority stake in gas-fired cogeneration plants in France
January 10, 2017 / 2:30 PM / 6 months ago

Amundi buys majority stake in gas-fired cogeneration plants in France

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LONDON, Jan 10 (Reuters) - A joint venture between asset management company Amundi and French utility EDF has bought a majority stake in 132 gas-fired cogeneration plants in France for 150 million euros ($159 million), Amundi said on Tuesday.

Amundi Energy Transition bought the stake in the plants, which have a total capacity of 330 megawatts (MW), from Dalkia, a French energy services company which is also an EDF subsidiary, it said in a statement.

Cogeneration, also known as combined heat and power, can produce heat and electricity at the same time from the same facility.

Such plants can recover heat produced as a by-product of power generation and reuse it in industrial processes and to produce energy for hospitals and public housing.

Amundi Energy said it was also working on a second deal this year for a separate 170-MW group of Dalkia cogeneration projects which are currently under construction. ($1 = 0.9460 euros) (Reporting by Nina Chestney. Editing by Jane Merriman)

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