Ørsted is selling a 24.5% stake in UK offshore wind farm West of Dudden Sands in a deal worth (GBP 456.1m (just over DKK 4bn).
This was announced by Ørsted in a press release.
The buyer of the 24.5% stake in the offshore wind farm is UK investment fund Schroders Greencoat, which invests in renewable energy infrastructure.
Farm-downs and partnerships are an integral part of Ørsted’s business model, and we’re pleased to expand our partnership with Schroders Greencoat, who has a proven track record in managing renewable energy infrastructure assets and is a highly valued partner to Ørsted,” says Trond Westlie, Group CFO of Ørsted, and adds:
”With today’s announcement we continue to deliver on our farm-down programme with a transaction that meets our strategic objectives for partnerships and divestments in terms of value creation, risk diversification, and capital recycling.”
The wind farm was commissioned in 2014 and has a capacity of 38 MW. Ørsted retains a proportionate consolidated ownership interest of 25.5% in West of Duddon Sands and will continue as operator.
Schroders Greencoat is already a partner in four other Ørsted offshore wind farms: Walney, Burbo Bank Extension, Hornsea 1, and Borkum Riffgrund 1.
