Vattenfall sells stake in UK offshore wind farm

Vattenfall has sold a 49% stake in an offshore wind farm in the Irish Sea. Swedish pension group AMF is investing £237 million in the 150MW Ormonde Offshore Wind Farm. […]

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By Jacqueline Echevarria

Vattenfall has sold a 49% stake in an offshore wind farm in the Irish Sea.

Swedish pension group AMF is investing £237 million in the 150MW Ormonde Offshore Wind Farm.

The energy company will continue operating the 30-turbine wind farm which started generating electricity in 2012.

Magnus Hall, President and CEO of Vattenfall said: “The market has shown a considerable interest in Ormonde. The main reason is that the wind farm is profitable and considered to have good prospects for stable and continuous profitability.”

Earlier this year, Energy Secretary Amber Rudd said the government will no longer issue “blank cheques” for offshore wind projects.