GreenergyDaily

Sep. 25, 2025

State Development and Investment Group Co. is considering selling its energy assets in the UK, which it operates through Edinburgh-based subsidiary Red Rock Renewables, according to people familiar with the matter.

SDIC is working with a financial adviser on the potential disposal, the people said, asking not to be identified because the deliberations are private. A sale of the assets, which include offshore and onshore wind farms, could be valued at £500 million ($673 million) to £700 million, the people said.

SDIC has sounded out potential buyers to gauge interest, the people said, adding that considerations are ongoing and no final decisions have been made.

Founded 30 years ago, SDIC had 876 billion yuan ($123 billion) in assets and about 50,000 employees as of the end of 2024. The Chinese state-backed company says it focuses on energy-related industries, digital technology and science, health and industrial finance. Its revenue last year was 195.8 billion yuan and net income was 25.6 billion yuan.

Listed SDIC unit SDIC Power Holdings Co. said last October that Red Rock Renewables would be investing as much as £962 million in the Inch Cape wind power project, which it expects to be fully operational in 2027.