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RWE Innogy has agreed terms for the sale of a 10% share in its Gwynt y Môr offshore wind farm with the UK Green Investment Bank.
RWE Innogy will generate GBP 220 million of new capital as a result of the sale, which will be reinvested into other renewable energy projects. The transaction will close when the construction of Gwynt y Môr is completed, expected to be towards the end of this year. Gwynt y Môr is a € 2billion offshore wind farm which will be fully operational at the end of 2014.