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

Credit: REUTERS/VINCENT WEST

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.

LONDON, Aug 12 (Reuters) - Spanish energy firm Iberdrola IBE.MC 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 MOG.AX.

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)

((nina.chestney@thomsonreuters.com; +44 (0)207 542 8071; Reuters Messaging: nina.chestney.thomsonreuters.com@reuters.net))

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