SCOTTISHPOWER’s Spanish owner has underlined its faith in the potential to develop more North Sea renewable energy assets after clinching a deal to sell a stake in a giant windfarm that values the facility at £4.1 billion. Iberdrola has agreed to sell a 40 per cent interest in the East Anglia One development to Macquarie investment bank for £1.6bn. The deal highlights the scale of the development, which has been led by ScottishPower Renewables engineering experts in Glasgow and London. The 714 megawatt windfarm will be one of the biggest in the world when it is commissioned next year. It is expected to generate enough electricity to power 600,000 homes. Macquarie’s decision to take a significant minority stake in East Anglia One reflects its confidence in the commercial prospects for the offshore renewables industry amid the drive to tackle climate change.
Herald 13th Aug 2019 read more »
Business Green 13th Aug 2019 read more »