Thursday, December 12, 2013

Centrica sells wind farm project to DONG for 50 million pounds

(Reuters) - British energy supplier Centrica said it agreed to sell a wind farm project which it was planning to build off the east coast of England to Danish utility DONG Energy for 50 million pounds.
Centrica had taken the wind farm projet, called Race Bank, through the planning and initial engineering stages but building had not yet started.
"This transaction marks the next step in the development of the Race Bank wind farm and we are pleased that the project will continue to progress towards a final investment decision," Centrica said in a statement on Thursday.
Media reports in November said Centrica was likely to drop out of the 2 billion-pound project due to insufficient government subsidies.