Ørsted has signed an agreement with funds managed by
London Array has a total installed capacity of 630 MW and entered commercial operation in 2013. Ørsted originally owned 50 % of the project and divested an initial 25 % of London Array to CDPQ in 2014. Ørsted does not have O&M responsibility at London Array, and as the company only holds a minority interest, Ørsted considers the asset non-strategic.
Ørsted remains the largest player in
Daniel Lerup, Chief Financial Officer at Ørsted, says:
“We’re very pleased to have found a strong new owner for our remaining minority interest in London Array. We continue to see significant appetite for offshore wind as an asset class, and with this divestment, we continue our unrivalled track record of efficiently recycling capital to help fund our
The transaction is expected to close at the end of July. The gain from the transaction will be part of ‘EBITDA from new partnerships’.
For further information, please contact:
Media Relations
+45 99 55 44 07
thrwi@orsted.com
Investor Relations
Rasmus Keglberg Hærvig
+45 99 55 90 95
ir@orsted.com
About Ørsted
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Ørsted is recognised on the CDP Climate Change A List as a global leader on climate action and was the first energy company in the world to have its science-based net-zero emissions target validated by the Science Based Targets initiative (SBTi). Headquartered in
Attachments
- London Array.pdf
© Ritzau Denmark, source