Centrica sells 50 per cent stake in Barrow offshore windfarm

The stake has been acquired by windfarm operator Dong Energy, which owns the other 50 per cent of the project, operational since 2006.

As part of the deal, the power purchase agreement (PPA) currently in place between Centrica and the 90MW Barrow offshore windfarm will be terminated.

In a statement, Centrica said the sale “is in line with its strategy to release capital from its UK operational wind portfolio for value”.

Centrica initially acquired a 25 per cent stake in the Barrow offshore windfarm in 2003 with partners Dong Energy (37.5 per cent) and Statkraft (37.5 per cent).

Statkraft then sold its 25 per cent stake to both Dong Energy and Centrica in 2004, when the two companies formed a 50:50 joint venture.