By: greenbank On: March 01, 2015 In: Comments: 0

GIB made a GB£240 million investment in the UK’s offshore wind sector by purchasing a 20 per cent stake from Statkraft and Statoil in Scira Offshore Energy Limited (Scira), the owner of Sheringham Shoal offshore wind farm, for an agreed valuation of GB£240 million. The 317 MW offshore wind farm has been operating for two years in the Greater Wash area, between 17 and 23 kilometres off the coast of Norfolk.

The investment is part of a wider strategy, led by GIB, to strengthen the UK offshore wind sector by allowing developers to recycle capital into new projects and by attracting new investors into the sector. GIB’s stake in the wind farm was subsequently acquired by the GIB Financial Services-managed offshore wind fund in April 2015

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