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Centrica to sell wind stake

Source: Reuters - Mon 26th Oct 2009

Centrica, the acquisitive owner of British Gas, is to raise 400 million pounds to fund expansion after selling half its stake in the world's largest wind farm, The Sunday Times Reports.

The company, which bought oil and gas producer Venture Productions for $2 billion in August, is selling half its stake in the Lynn and Inner Dowsing wind farm off the Lincolnshire coast, the paper reports, without saying where it got the information.

It says the company is raising money for investments in gas storage projects, new nuclear plants and offshore wind farms.

Centrica was not immediately available for a comment.

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