Ørsted has inked a partnership agreement with Brookfield and its listed affiliate Brookfield Renewables that will acquire a 12.45 per cent minority stake in four of Ørsted’s operational offshore wind farms. These wind warms include Hornsea 1, Hornsea 2, Walney Extension, and Burbo Bank Extension located in UK. These wind farms collectively have a capacity of approximately 3.5 GW.
The transaction is valued at GBP 1.745 billion and is being executed through Brookfield Infrastructure Fund V. This deal was expected to conclude by the end of 2024. After this deal, Ørsted will retain a 37.55 per cent ownership in the four wind farms and maintain its original degree of control and governance. All four assets are fully operational with long-term inflation-linked contracts for difference (CFDs) in place.
Earlier in March 2024, Ørsted inked a deal with Stonepeak to sell off a part of its ownership in a portfolio of four US onshore wind farms, with a total capacity of 957 MW. The transaction was valued at approximately $300 million.
