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Centrica sells windfarm share

wind turbine

Centrica and its partner EIG Global Energy Partners have both agreed to sell the three UK wind farms they jointly own for £423M.

Glens of Foudland, Lynn and Inner Dowsing wind farms are jointly owned by Centrica and EIG, who each have a 50% share.

The buyers are a consortium, including the UK Green Investment Bank Offshore Wind Fund and funds managed by BlackRock.

Glens of Foudland is an 26MW onshore wind farm located in Aberdeenshire and the 194MW Lynn and Inner Dowsing offshore wind farms are located off the coast of North East Lincolnshire.

The sale is in line with Centrica’s strategy to sell its wind power generation interests, but continue to buy wind power.

Centrica will continue to purchase 100% of the power and 50% of the Renewable Obligation Certificates from the three wind farms until 2024.

A group of business leaders including Carillion chief executive Richard Howson have recently written to the government urging it to back onshore wind and energy storage technology.

 

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