Iberdrola is reportedly planning to sell a 49% stake in the 960MW East Anglia 2 wind farm in the UK North Sea.
Spanish business publication Cinco Dias reports the developer has hired Bank of America and BBVA as financial advisors on the deal.
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A&O Shearman is the legal advisor on the transaction, the news outlet claims, citing financial sources familiar with the transaction.
Abu Dhabi-based investors are said to be interested in the stake.
The deal would continue Iberdrola’s strategy of farming down stakes in its large offshore wind assets.
Masdar already holds a 50% stake in the under-construction 1.4GW East Anglia 3 site nearby.
The EA Hub is being developed by Iberdrola subsidiary ScottishPower Renewables.
EA2 is due online in 2028.