Ørsted Divests 24.5% Stake in Wind Farm

Ørsted, a key player in the offshore wind farm sector, has divested a 24.5% stake in the West of Duddon Sands Offshore Wind Farm to funds managed by Schroders Greencoat. The transaction, valued at £456.1 million on a debt-free basis, marks another step in Ørsted's strategy to recycle capital efficiently and strengthen its role in promoting the UK's green energy transition. Located approximately 14 km off the UK coast, the West of Duddon Sands wind farm, a venture jointly held with Scottish Power Renewables, boasts an installed capacity of 389 MW. Legal advisory for this divestment was provided by Orrick, which has maintained a longstanding partnership with Ørsted. Notably, this transaction follows Ørsted's £717 million divestment of a 25% interest in the London Array wind farm and a £1.14 billion sale of transmission assets of Hornsea Two to Diamond Transmission Partners. Ørsted retains a 25.5% interest in West of Duddon Sands and continues its operations. Headquartered in Denmark, Ørsted is committed to expanding its offshore wind capacity, currently undertaking an 8 GW construction program. The collaboration with Schroders Greencoat, which manages assets and infrastructure globally, is indicative of the broader industry trends focused on sustainable energy investments.