Centrica and its joint venture partner EIG Global Energy Partners (EIG) have agreed to sell a portfolio of three wind farms in the UK to a consortium comprising the UK Green Investment Bank Offshore Wind Fund and fund manager Black Rock.
The portfolio comprises the Glens of Foudland onshore wind farm and two offshore wind farms – Lynn and Inner Dowsing. The transaction is valued at £423 million, Centrica said.
Centrica said that the sale is in line with its strategy to dispose of its wind farms. It will continue to purchase all of the power and 50 per cent of the renewable obligation certificates (ROCs) from the three wind farms under existing power purchase agreements that run until 2024.
The 26 MW Glens of Foudland wind farm is located in Aberdeenshore, Scotland. The Lynn and Inner Dowsing offshore wind farms have a combined capacity of 194 MW and are located off the coast of NE Lincolnshire.
