Centrica plc Disposal
December 19 2014 - 5:30AM
UK Regulatory
TIDMCNA
19 December 2014
Centrica sells 50% interest in Barrow Offshore Wind Farm.
Centrica plc has sold its 50% non-operated interest in the 90MW
Barrow Offshore Wind Farm, located in the East Irish Sea. The stake
has been acquired by the operator, DONG Energy, which owns the
remaining 50% of the asset. As part of the transaction, the power
purchase agreement (PPA) currently in place between Centrica and
the Barrow Offshore Wind Farm will be terminated. The total
consideration is GBP50 million in cash.
The sale is in line with Centrica's strategy to release capital
from its UK operational wind portfolio for value.
Centrica retains interests in three operational wind farms and
continues to purchase a substantial amount of renewable and lower
carbon power for its customers.
In 2013, the power generated globally through our investments in
nuclear and renewable energy helped avoid more than 8m tonnes of
CO2 equivalent. In addition, the products Centrica has installed in
UK homes since 2010 have cut over 9.8m tonnes of CO2
equivalent.
ENDS
Enquiries:
Centrica Investor Relations: 01753 494900
Centrica Energy Media Relations: 07557 619385
Notes to Editors:
-- Centrica initially acquired a 25% stake in the Barrow Offshore Wind
Farm in 2003 with partners DONG Energy (37.5%) and Statkraft
(37.5%).
Centrica then acquired a further 25% stake in 2004, forming a
50:50
joint venture partnership with DONG Energy.
-- Centrica's remaining equity interests in UK operational wind farms
following the transaction are detailed below:
Total installed Centrica equity Centrica equity
capacity (MW) interest capacity (MW)
Glens of Onshore 26 50% 13
Foudland
Lynn and Offshore 194 50% 97
Inner
Dowsing
Lincs Offshore 270 50% 135
Total 245
This information is provided by Business Wire
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