Centrica to sell 50% stake in UK offshore farm

Centrica Plc, teh UK energy group, has plans to sell its 50% stake in the 270 MW Lincs offshore wind farm located in British waters.

Located approximately 8km from the Skegness coast, immediately adjacent to the Lynn and Inner Dowsing wind farms, the project comprises 76 SWT-3.6-120 wind turbines provided Siemens. The £725 million (US$947 million) project was commissioned in September 2013. 

​In 2009, DONG Energy acquired 25% of the 270 MW Lincs offshore wind farm from Centrica. Lincs is situated 8km off the east coast, near Skegness in Lincolnshire. Construction on the wind farm began in 2010, and it was officially opened by the Deputy Prime Minister Nick Clegg, in August 2013.

The deal is part of Centrica's plan to release £0.5-1 billion of divestment proceeds by 2017 from oil and gas E&P and wind.