Iberdrola has entered into an agreement with Green Investment Group (GIG), part of Macquarie Group, to sell a 40% share in the East Anglia One offshore wind farm.
Iberdrola will continue to be the majority shareholder with a 60% stake in the 714MW wind farm located offshore Suffolk in the UK.
According to transaction terms and conditions, the entire value of East Anglia One is GBP 4.1 billion and when it is operational in 2020, Iberdrola will receive GBP 1.63 billion (about EUR 1.75 billion) for the 40% stake.
The completion of the transaction is subject to the standard authorization from the Crown Estate, the company said.
East Anglia ONE will comprise a total of 102 Siemens Gamesa 7MW turbines, of which the first was installed at the project site in June.
In mid-July, Van Oord completed the installation of jacket foundations at the 714MW offshore wind farm.