Centrica has agreed to sell its interests in three UK wind farms to a consortium for £115.
The company, which owns British Gas, said it has agreed with its 50/50 joint venture partner to sell the Glens of Foudland near Huntly in Aberdeenshire, Lynn and Inner Dowsing wind farms to a consortium comprised of the UK Green Investment Bank Offshore Wind Fund and funds managed by BlackRock.
Those wind farms were being operated under a joint venture between Centrica and EIG Global Energy Partners, and the pair will be selling the assets for a total of £423million. After taking into account the debt secured against the assets that needs to be repaid by Centrica, the company will receive around £115million in net proceeds.
Glens of Foudland is an onshore wind farm. Lynn and Inner Dowsing offshore wind farms are located off the coast of North East Lincolnshire in England.