China’s State Development and Investment Group (SDIC) is considering the potential sale of its renewable energy holdings in the United Kingdom, including stakes in major wind power projects, according to a report by Bloomberg.
The company has reportedly engaged a financial advisor to assess the possibility of a disposal, though a final decision has not yet been reached, sources familiar with the matter told Bloomberg.
The assets under review are held through SDIC’s UK-based subsidiary, Red Rock Power Ltd. (formerly Red Rock Renewables), which operates and invests in wind energy projects across Scotland. The portfolio includes the operational 50-megawatt (MW) Afton and the in-development 67MW Benbrack onshore wind farms, as well as offshore assets such as a 50% stake in the 1.1-gigawatt (GW) Inch Cape project currently under construction, and a 25% share in the operational 588MW Beatrice wind farm.
Estimates suggest the potential sale could value the assets between £500 million and £700 million, according to Bloomberg’s unnamed sources.
“There’s no certainty the deliberations will lead to a transaction,” Bloomberg reported, citing people with knowledge of the situation.
SDIC and Red Rock Power have not publicly commented on the reported review.
The move comes amid growing scrutiny of Chinese investment in critical infrastructure sectors across Europe, including renewable energy. However, the reported review appears to be driven by strategic portfolio considerations rather than political factors, sources indicated.
In recent years, Red Rock Power has positioned itself as an active player in the UK’s transition to low-carbon energy. “Red Rock Power is committed to growing its portfolio of renewable energy projects and supporting the UK’s net-zero ambitions,” the company previously stated in a corporate release.
