Iberdrola to sell 40% stake in UK wind project for 1.6 billion pounds
Reuters
Published Aug 12, 2019 04:06AM ET
Iberdrola to sell 40% stake in UK wind project for 1.6 billion pounds
LONDON (Reuters) - Spanish energy firm Iberdrola (MC:IBE) has agreed to sell a 40% share in British offshore wind project East Anglia One to the Green Investment Group, it said on Monday.
Iberdrola will receive 1.63 billion pounds ($2 billion) for the 40% stake, it said.
When East Anglia One is operational in 2020 it will be one of the world's largest wind farms, with a capacity of 714 megawatts or enough power 600,000 homes.
The Green Investment Group is part of the Macquarie group .
The completion of the transaction is subject to authorization from the Crown Estate.
($1 = 0.8290 pounds)
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Written By: Reuters
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