Cinco Dias reports that Iberdrola is looking to sell 49 percent of the East Anglia Two offshore wind farm.

Cinco Dias, a newspaper in Spain, reported that Iberdrola, the Spanish utility, is looking to sell 49 percent of its East Anglia Two offshore wind farm, estimated at 5 billion euros.

Reports said that the company hired Bank of America and BBVA to act as financial advisors in connection with the possible sale.

A spokesperson for Iberdrola did not respond immediately to a comment request.

Iberdrola is shifting its focus away from green assets and towards power networks in areas with the highest legal certainty such as the United States of America and Britain.

The company still sees the U.S. market as important despite President Donald Trump's opposition to offshore wind. But the bulk of its investments are in power networks - regulated at state level - in Democratic-controlled states like New York, Maine, Massachusetts or Connecticut.

Iberdrola announced in September that it would increase its investment by 30% to reach 58 billion euro through 2028. Two thirds of this amount will be allocated to British and U.S. electricity networks.

(source: Reuters)