Centrica Sells 50% Share in Scottish Wind Farm to Hermes GPE
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Centrica Plc, the U.K.’s largest household energy supplier, agreed to sell its 50 percent share in a Scottish wind farm to a fund managed by private equity company Hermes GPE LLP for 59 million pounds ($89.4 million).
Centrica, which bought its stake in 2007 for 42 million pounds, will continue to receive all power from the 72-megawatt Braes of Doune plant in Stirlingshire, the Windsor-based company said today. The sale is “in line with Centrica’s strategy to release capital from operational wind assets to enhance returns,” it said in a statement.