The German energy company RWE has hired bankers to sell in one of the UK’s largest offshore wind farms off the Yorkshire coast. RWE, which inherited the Humber Gateway offshore wind farm as part of a €43bn (£38bn) asset swap with energy rival E. ON, has appointed Morgan Stanley to prepare an auction after interviewing a handful of advisers earlier this year. Any deal is expected to value the wind farm at around £1bn. City sources said that while a stake worth up to 49pc of the business could be on offer, a formal process is yet to start. A potential sale could face delays from disruption caused by the Covid-19 pandemic. Infrastructure funds and utilities are expected to table offers. A potential deal could also generate interest from European and Canadian pension funds, as well as sovereign wealth funds.
Telegraph 19th April 2020 read more »