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Centrica, EIG sell UK wind farms to Green Investment Bank, BlackRock

Reuters

LONDON (Reuters) - Gas and power utility Centrica (CNA.L) and its joint venture partner EIG Global Energy Partners have sold three UK wind farms for 423 million pounds to a consortium that includes Britain's state-owned Green Investment Bank and U.S. investment group BlackRock (BLK.N), the company said.

Centrica, Britain's largest household energy supplier, said it would continue purchasing all of the electricity produced by the wind farms and the related Renewable Obligation Certificates (ROCs) until 2024.

Centrica, which has previously announced its intention to dispose of its wind energy assets, said its net proceeds from the sale amount to around 115 million pounds and a profit of 70 million pounds.

The wind farms are the 194-megawatt (MW) Lynn and Inner Dowsing offshore farms and the 26-MW Glens of Foundland onshore farm in Scotland.

(Reporting by Karolin Schaps; Editing by Greg Mahlich)