Balfour Beatty has agreed the sale of its 33.3% interest in the grid infrastructure for the Greater Gabbard offshore wind project in the UK.
The company will receive £25.5m for the OFTO stake off Suffolk. The link was valued at £317m when secured by Balfour Beatty and partners in November 2013.
Balfour Beatty has sold the share to a fund managed by Equitix, which already holds a one-third stake in the Gabbard OFTO.
The consideration is to be paid in cash in full on completion of the transaction.
Greater Gabbard is a 140 turbine Round 2 wind farm owned by RWE and SSE.
Image: Greater Gabbard (RWE)
