TNB’s maiden foray into onshore wind portfolio in the UK

TNB president and CEO Datuk Azman Mohd stressed that the takeover of Project 3B was not a bailout of 1MDB.

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) made its maiden foray into onshore wind in the UK with the acquisition of an 80% interest in two renewable energy (RE) companies registered in the UK for  a cash equity consideration of 77.37 million pound (RM417.5mil).

In a filing with Bursa Malaysia Thursday, TNB said its wholly owned subsidiary, Tenaga Wind Ventures UK Ltd had completed its acquisition of an 80% interest in two (UK) renewable energy companies namely GVO Wind Limited and Bluemerang Capital Limited through two share purchase agreements (SPAs) with Georg von Opel and Tanzanite B.V. & Catalin Breaban respectively.