Britain’s largest proposed offshore wind farms are to be sold off less than a year after the Christofferson Robb hedge fund purchased the project.
Christofferson Robb, based in London and New York, paid £47m for the site last year which is now expected to raise £80m in a sale.
The value of the project has been increased by developers in the past year by gaining planning consent, debt commitments and a connection slot to the national grid.
The hedge fund began discussions with potential partners about the building and financing of the project. Since then, utilities and financial buyers have bid for the Thanet wind farm which is off the coast of Margate in Kent.
The site is due to commence operation next year and will provide power for up to 240,000 homes, increasing the UK’s total offshore wind power capacity by 30%.
As the price of building offshore wind farms is increasing, construction is expected to cost up to £800m.
Expressions of interest are due by 31st August.
