13 November 2014 – Trust Company of the West (TCW), a US-based asset management firm, has launched a process to sell its 50% stakes in three UK wind farms it co-owns with Centrica, two people familiar with the situation have said.
RBC has been hired to advise on the sale process, the people added.
The wind farms for sale are the onshore Glens of Foudland, which has an installed capacity of 26MW; and the offshore Lynn and Inner Dowsing, with a combined installed capacity of 194MW.
TCW, which is a subsidiary of Societe Generale Asset Management, bought its stake in this portfolio from Centrica in 2009, paying GBP 84m.
RBC declined to comment. TCW and Centrica did not respond to requests for comment.
By Katie McQue