Orsted is selling 50% stake in UK's Hornsea 3 wind farm as part of divestment strategy

From Investing.com: 2024-11-25 17:42:38

Danish energy company Orsted is selling 50% of its stake in the Hornsea 3 wind farm, a major offshore project in the UK. The move is part of a broader divestment strategy led by CEO Mads Nipper. The project aims to power over three million British households and represents an £8.5 billion investment.

Orsted’s sale of the Hornsea 3 stake follows a £1.75 billion deal with Brookfield for four operational UK wind farms. The company’s divestment strategy is gaining momentum, attracting investor interest in its development projects. Earlier this year, Orsted secured government contracts for the Hornsea 3 project, signaling progress in the offshore wind industry.

Financial advisers from Bank of America and Credit Agricole are facilitating the transaction, though no official comments have been made. Orsted had initially planned to sell part of its stake in Hornsea 3 by 2025. The sale of the wind farm stake is a significant step for the company as it navigates challenges in the offshore wind sector and seeks funding for its ambitious projects.



Read more at Investing.com: Orsted seeks buyer for half of UK Hornsea 3 wind farm stake- report By Investing.com