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Tenaga buys 80% stake in two U.K. renewable firms

Acquisition to help boost company's foreign portfolio as part of broader goal

Tenaga Nasional headquarters in Kuala Lumpur

KUALA LUMPUR (Nikkei Markets) -- Tenaga Nasional Bhd. said Thursday it has acquired 80% stake in two renewable energy companies in the U.K. for 77.37 million pounds ($106.37 million) as Malaysia's national power company expands its overseas portfolio to boost earnings.

The acquisition of GVO Wind and Bluemerang Capital marks Tenaga's maiden foray into onshore wind sector in the U.K. The two companies own the largest feed-in tariff wind portfolio in the U.K., comprising 53 medium wind turbines with combined capacity of 26.1 megawatts.

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