Centrica invests £725 million in UK offshore wind farm
Centrica, the parent company of British Gas, will construct a 270 megawatt (MW) offshore wind project off the coast of Scotland. The Lincs project is to be located next to its existing wind farms at Lynn and Inner Dowsing.
Investment in this project will total roughly £725 million and will begin generating power in 2012. When this project is complete, Centrica's portfolio of renewable energy projects will have a total installed capacity of 650MW.
"The government's enhanced financial framework for offshore wind has been fundamental in improving the overall project economics of this development," says Sam Laidlaw, chief executive of Centrica.
Centrica has also agreed to the sale of a 50% equity stake in its Lynn
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