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RWE strikes financing deal for $2.3 bln wind park in Britain

Reuters - UK Focus

FRANKFURT/DUESSELDORF, Oct (HKSE: 3366-OL.HK - news) 30 (Reuters) - German utility RWE (Amsterdam: RW6.AS - news) has found three partners to finance the 1.5 billion pound ($2.3 billion) Galloper wind park to be built off the British coast, it said on Friday.

RWE (Xetra: 703712 - news) said Britain's Green Investment Bank, German engineering group Siemens (BSE: SIEMENS4.BO - news) and Australian bank Macquarie would join the 336 megawatt project, with each of the partners holding a 25 percent stake.

Construction of the wind farm, which will be located about 27 kilometres (17 miles) off the coast of Suffolk in eastern England and produce power for up to 336,000 homes, will begin in November, with operation expected to start in March 2018. ($1 = 0.6519 pounds)

(Reporting by Christoph Steitz and Tom Kaeckenhoff; Editing by Victoria Bryan)