Centrica 'to sell huge wind farm stake'
CENTRICA is reportedly poised for the near-£400 million sale of half its stake in the world's largest wind farm.
The British Gas-owning company is said to be in negotiations with an infrastructure fund about the stake in the Lynn and Inner Dowsing wind farm off the Lincolnshire coast.
The deal is part of a programme of asset sales being undertaken by chief executive Sam Laidlaw to fund investments in gas storage projects, new nuclear plants and other offshore wind farms.
Centrica is expected to get about 90m for the equity stake, plus 300m from a debt syndicate pulled together by Bank of Tokyo-Mitsubishi.
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Weather for Edinburgh
Saturday 18 February 2012
Today
Light sleet showers
Temperature: -2 C to 7 C
Wind Speed: 30 mph
Wind direction: West
Tomorrow
Sunny spells
Temperature: 1 C to 5 C
Wind Speed: 15 mph
Wind direction: West
