[October 07, 2008] Vattenfall AB acquires UK wind farms developer AMEC Wind Energy Ltd Tweet (Nordic Business Report Via Acquire Media NewsEdge) Swedish state-owned utility Vattenfall AB said on Monday (6 October) that it has agreed to acquire the British commercial wind farms developer AMEC Wind Energy Limited from AMEC Plc. The purchase consideration amounts to approximately GBP126.6m in cash. AMEC Wind is one of the largest wind farm developers in the UK and owns a development portfolio with a potential capacity of 573 MW. In connection with the deal Vattenfall and AMC also entered into a strategic alliance covering joint development of energy projects with increased efficiency and lower carbon emissions. The parties have also signed a framework agreement covering the development of both existing wind projects in the AMEC portfolio being acquired by Vattenfall, as well as new wind projects in the UK. Vattenfall, headquartered in Stockholm, Sweden, is one of northern Europe's leading power companies. The company has 32,400 employees in the Nordic countries, Germany and Poland and reported sales of SEK143.64bn in 2007. One British pound (GBP) is worth approximately 12.58 Swedish kronor (SEK). ((Comments on this story may be sent to [email protected])) Copyright ? 2008 M2 Communications Ltd. [ Back To TMCnet.com's Homepage ]