Ørsted divests from UK windfarm
investmentweek.co.ukØrsted originally owned a 50% stake in Array and divested the first 25% in 2014 to global investment group CDPQ for £644m.
The company held a 25% stake in the UK business, with the funds managed by Schroders Greencoat, a global specialist asset manager focusing on renewable energy infrastructure assets.
The London Array wind farm, one of Orsted's first projects, was commissioned almost a decade ago, in 2013.
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The sale of assets is set to total £717m and is expected to complete at the end of July.
Ørsted originally owned a 50% stake in Array and divested the first 25% in 2014 to global investment group CDPQ for £644m.
In a statement, Daniel Lerup, chief financial officer at Ørsted, said: «We are very pleased to have found a strong new owner for our remaining minority interest in London Array.»
He explained: «We continue to see significant appetite for offshore wind as an asset class», adding that this divestment forms part of its practice to recycle capital to help fund its multi-billion investment programme.
Lerup concluded: "Ørsted remains committed to the UK offshore wind market and will continue to make significant investments in the country's green transformation both onshore- and offshore."
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