The UK Green Investment Bank (GIB) has bought Centrica and Siemens Project Ventures’ combined 75% stake in the 270MW Lincs offshore wind farm off the coast of Lincolnshire for £731m.
The acquisition is split between the bank’s GIB Offshore Wind Fund, which has taken a 44% interest for £429m, and the GIB itself which has bought a 31% stake for £302m.
As part of the deal, Dong Energy – which owns the remaining 25% – has agreed to take over operations and maintenance (O&M) of the wind farm from Centrica for 15 years following a 12-month transitional period when the sale is completed.
Lincs consists of 75 Siemens 3.6MW turbines and has been operational since 1 August 2013.
Dong senior vice president of operations Jens Jakobsson said: “It will be the first time we take over O&M of an operating wind farm, which we haven’t constructed ourselves.
“We’re now looking forward to further strengthening our relationship with the Green Investment Bank, which is also our partner in the Westermost Rough offshore wind farm.”
Image: Centrica
