German utility RWE is reportedly planning to sell a minority stake in its UK’s Humber Gateway offshore wind farm, with Morgan Stanley to launch the deal.
The 73-turbine wind farm has capacity to produce 219 megawatts (MW) of electricity. It’s located off the Holderness coast, in the British North Sea.
Citing unnamed sources familiar with the matter, Reuters said earlier this week the sale could value the asset at over €1.2 billion ($1.4 billion). The deal is expected to be put on the market after the summer break.
The report didn’t disclose the size of the potential stake sale, but said infrastructure, pension funds and insurers are expected to show interest. RWE declined to comment.
On Thursday, RWE’s chief financial officer Markus Krebber said the coronavirus continues to cast shadow over the global economy, but RWE has weathered these difficult times well so far.
“We are strategically well-positioned and pressing ahead vigorously with the expansion of our core business. That’s the basis for the new RWE to reach its ambitious goals: to be carbon neutral by 2040 and to remain one of the world’s leading companies in the field of renewable energy,” he said in the 1H20 results statement.
The company said it will invest in new assets, making acquisitions, developing project pipelines and driving innovative technologies forward, Kallanish Energy reports.
It’s currently planning to acquire Nordex SE’s European onshore wind and solar business, with a pipeline of 2.7 gigawatts (GW).
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