Spanish power utility Iberdrola is seeking to sell 49 per cent of its offshore wind farm East Anglia Two in Britain, which has an estimated total value of €5 billion ($5.8 billion), newspaper Cinco Días reported on Thursday, citing unidentified sources familiar with the plans.
The company has hired Bank of America and BBVA as financial advisers for the potential sale, the report said.
An Iberdrola spokesperson did not immediately respond to a Reuters request for comment.
Iberdrola has been shifting its focus from "green assets" to power networks in regions with maximum legal certainty, such as the United States and Britain.
The company continues to see the US as a key market despite opposition from President Donald Trump’s administration to offshore wind. However, the bulk of its investments are in power networks — regulated at state level — in Democratic-controlled states such as New York, Maine, Massachusetts, and Connecticut.
In September, Iberdrola announced a 30 per cent increase in investment through 2028 to €58 billion — two-thirds of which are destined for British and US power networks.
(Reporting by David Latona; Editing by Jane Merriman)