(Reuters) - Iberdrola SA (IBE.MC) has agreed to sell a stake worth more than 1 billion pounds ($1.20 billion) in its UK energy business ScottishPower’s East Anglia wind farm to Macquarie Group Ltd’s (MQG.AX) Green Investment Group subsidiary, the Financial Times reported on Monday.
Iberdrola will sell to the group slightly less than 50% of the wind farm located off the Suffolk coast and currently under construction, the FT said. The deal will be funded using third party debt, the report added on.ft.com/2H15yqq.
Iberdrola, Macquarie and Green Investment Group did not respond immediately to requests for comment from Reuters.
($1 = 0.8315 pounds)
Reporting by Akshay Balan in Bengaluru; Editing by Bill Rigby