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Ørsted has finalized the sale of a 24.5% stake in the West of Duddon Sands Offshore Wind Farm to Schroders Greencoat-managed funds for GBP 456.1 million (approximately DKK 4 billion), excluding debt. The deal closed on April 30, 2025. The wind farm, located 14 km off the UK west coast, has been operational since 2014 and boasts a capacity of 389 MW.
Schroders Greencoat, a leader in renewable infrastructure investments, manages assets worth GBP 9.6 billion and a net generating capacity exceeding 7 GW. This transaction further strengthens the collaboration between Ørsted and Schroders Greencoat, which already partners on four Ørsted offshore wind farms: Walney, Burbo Bank Extension, Hornsea 1, and Borkum Riffgrund 1.
This deal is part of Ørsted’s ongoing partnership and divestment strategy, aimed at maintaining a solid capital structure, diversifying risk, and recycling capital. Ørsted will retain a 25.5% interest in West of Duddon Sands and continue as the operator under the current operations and maintenance agreement.
With a self-funded business plan, Ørsted is advancing an 8 GW offshore wind construction program, which will nearly double its installed offshore wind capacity and reinforce its leadership in the global offshore wind sector.
Trond Westlie, Ørsted’s Group CFO, highlighted that farm-downs and partnerships are crucial to the company’s business model. He expressed satisfaction with expanding Ørsted’s partnership with Schroders Greencoat, noting their strong track record in managing renewable energy assets. Westlie emphasized that the transaction aligns with Ørsted’s strategic goals of value creation, risk diversification, and capital recycling.
As the UK’s top offshore wind developer, Ørsted operates over 5 GW of offshore wind capacity and is developing an additional 5 GW, including the Hornsea 3 and Hornsea 4 projects, both of which have secured Contracts for Difference (CfDs). Globally, Ørsted has installed 18.5 GW of renewable energy, including offshore and onshore wind, solar PV, and battery storage, with another 8 GW in development.
