A subsidiary of Macquarie Group has agreed to purchase a 40 percent stake in what is expected to be the world’s largest offshore wind farm for £1.63 billion ($1.96 billion).
The 714-megawatt United Kingdom–based East Anglia One offshore wind project will reportedly power more than 600,000 homes annually, according to media sources.
Seller Iberdrola, a Spanish public multinational electric utility company, will maintain the majority 60 percent stake in the wind farm, with Macquarie’s Green Investment Group, owning the rest.
The transaction values the entirety of East Anglia One at £4.1 billion ($4.9 billion).
The wind farm is expected to be operational in 2020.