- Aug 13, 2019 3:30 pm GMT
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Spanish utility Iberdrola SA is selling a stake in a U.K. offshore wind farm to a unit of Macquarie Group Ltd. for £1.63 billion ($1.96 billion) in a deal that highlights the widening appeal of renewable assets.
Institutional investors are becoming more inclined to invest earlier in large offshore wind projects for the steady income from long-term power purchase agreements. For Iberdrola, the 40% stake sale in what's expected to be the world's largest offshore wind farm will help it meet its target of delivering 10 gigawatts of offshore wind over the next few years.
Market trends like these are some of the more compelling to watch to identify the priorities over the next 2-5 years from some utilities