Spanish power utility Iberdrola is seeking to sell 49% of its offshore wind farm East Anglia Two in Britain, which has an estimated total value of 5 billion euros ($5…
Spanish power utility Iberdrola is seeking to sell 49% of its offshore wind farm East Anglia Two in Britain, which has an estimated total value of 5 billion euros ($5.8 billion), newspaper Cinco Dias reported on Thursday, citing unidentified sources familiar with the plans.
The company has hired Bank of America BAC.N and BBVA BBVA.MC as financial advisers for the potential sale, the report said.
An Iberdrola spokesperson did not immediately respond to a Reuters request for comment.
Iberdrola has been shifting its focus from green assets to power networks in regions with maximum legal certainty, such as the United States and Britain.
The company continues to see the U.S. as a key market despite opposition from President Donald Trump's administration to offshore wind. But the bulk of its investments are in power networks - regulated at state level - in Democratic-controlled states like New York, Maine, Massachusetts or Connecticut.
In September, Iberdrola announced a 30% increase in investment through 2028 to 58 billion euros - two thirds of which are destined to British and U.S. power networks.
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