(Reuters) – Norway’s state-owned power firm Statkraft said on Thursday it had agreed to sell its stake in the Sheringham Shoal offshore wind farm to UK fund manager Equitix.
The 40 percent stake in the wind farm, located off the coast of Norfolk in Britain, will be sold for 558 million pounds.($749.28 million).
The 317 megawatt (MW) capacity Sheringham Shoal has been operational since 2012 and is owned by Statoil, Statkraft and the wind fund managed by Green Investment Group Management Limited.
Statkraft is also looking to sell its 30 percent stake in 402 MW Dudgeon wind farm.
In June, the company had said that it would conclude the stake sales process for both wind farms towards the end of 2017 and potentially close early next year.
(Reporting by Sangameswaran S in Bengaluru; Editing by James Dalgleish)