COPENHAGEN - Danish energy company Ørsted A/S (CPH:ORSTED) has completed the divestment of a 12.45% minority interest in four UK offshore wind farms to global asset manager Brookfield. The transaction, which was initially announced on October 30, 2024, includes stakes in the Hornsea 1, Hornsea 2, Walney Extension, and Burbo Bank Extension wind farms.
The sale is part of Ørsted's portfolio optimization strategy and capital allocation process. The specific financial terms of the deal were not disclosed in the press release. This move comes as Ørsted continues to expand its footprint in the renewable energy sector, focusing on the development, construction, and operation of wind, solar, and energy storage facilities, as well as renewable hydrogen and green fuels.
Ørsted is recognized for its commitment to climate action, having its net-zero emissions target validated by the Science Based Targets initiative (SBTi). The company, which is headquartered in Denmark and employs approximately 8,400 people, reported a revenue of DKK 79.3 billion (EUR 10.6 billion) in 2023.
The divestment aligns with Ørsted’s vision of a world powered entirely by green energy and its status as a leader in climate change action, as noted on the CDP Climate Change A List. By reallocating assets, Ørsted aims to strengthen its core business areas and invest in new growth opportunities within the renewable energy sector.
This development is expected to have implications for the company's investment strategy and future projects in the renewable energy market. The information for this article is based on a press release statement from Ørsted A/S.
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