Iberdrola concludes sale of 40% its East Anglia One offshore wind project in UK
Iberdrola has completed the sale of 40% shares in its large marine wind farm in the United Kingdom, East Anglia One (EAO), for GBP1,630 million (US$1.96 billion) to Macquarie’s Green Investment Group (GIG).
The sale, which has been made through ScottishPower Renewables, has been accomplished after obtaining the required authorization by The Crown Estate last August 30.
East Anglia One features 102 Siemens SWT-7.0-154 turbines, comprising 155 km of 66 kV array cables including end terminations. The 66 kV high voltage technology will enable increased power transmission back to shore from large, high powered offshore turbines over traditional 33 kV cables. The project also consists of 102 SF6-free, gas-insulated 8VM1 high-voltage switchgear. The 8VM1 operates with vacuum circuit-breaker technology and with clean air instead of sulfur hexafluoride (SF6) as the insulating medium. The switchgear will protect each wind turbine individually against overloads and short-circuits.
The project is located in the North Sea and is expected to supply the equivalent of more than 630,000 British households with green electricity.
The facility is scheduled for completion in 2020.
Santander CIB, the investment banking unit of Banco Santander, has been the exclusive financial advisor of Iberdrola in this transaction.
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