French power group EDF to sell stake in Netherlands plant to Czech group EPH

PARIS (Reuters) – French power company EDF, which is being fully nationalised, said it had agreed to sell its 50% stake in the 870MW Sloe CCGT plant in the Netherlands to Czech power and infrastructure operator EPH.

“This transaction is part of EDF’s 3 billion euros ($2.9 billion) asset disposal program and closing is subject to customary regulatory authorisations,” added EDF.

The financial terms of this sale were not disclosed.

The French government, which already owns 84% of EDF, announced in July that it would take full control of EDF to help it fund massive investments to fix its reactors and build new ones.

France has said EDF’s nationalisation, which will cost the state 9.7 billion euros, will increase the security of its energy reserves as Europe scrambles to find alternatives to Russian gas.

($1 = 1.0365 euros)

(Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta)