August 12, 2019 / 8:07 AM / a month ago

Iberdrola to sell 40% stake in UK wind project for 1.6 bln stg

LONDON, Aug 12 (Reuters) - Spanish energy firm Iberdrola 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 authorisation from the Crown Estate.

$1 = 0.8290 pounds Reporting by Nina Chestney Editing by David Holmes

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