Centrica exits wind power

Centrica has sold its 50 per cent stake in the Lincs offshore wind farm off the coast of the UK, thereby en Lincs offshore wind farm ding its presence in the wind energy sector.

The company sold its share to the Green Investment Bank. Siemens Project Ventures also sold its share to GIB while Dong Energy retained its share and will take over as operator.

Centrica said its net proceeds from the deal would come to around £220m.

Centrica has shifted its strategy away from its core energy generation business to focus more on end-consumer services after years of weak profits from its energy production unit.

As it began its offloading of wind assets last year the company realised net proceeds of around £115m from the sale of stakes in three wind farms.

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