Ørsted has completed the sale of a 24.5% stake in the West of Duddon Sands offshore wind farm, 14km from the west coast of England, to funds managed by Schroders Greencoat.
The transaction, valued at £456.1m ($606.5m) on a debt-free basis, was finalised on 30 April 2025.
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West of Duddon Sands has been operational since 2014 and has a capacity of 389MW.
The divestment aligns with Ørsted’s ongoing partnership and divestment programme, aimed at strengthening the company’s capital structure, diversifying risk and recycling capital for future growth.
Schroders Greencoat, a leading investor in renewable infrastructure assets, manages more than 7GW of net generating capacity and £9.6bn in assets.
Ørsted group CEO Trond Westlie stated: “Farm-downs and partnerships are an integral part of Ørsted’s business model, and we’re pleased to expand our partnership with Schroders Greencoat, who has a proven track record in managing renewable energy infrastructure assets and is a highly valued partner to Ørsted.
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By GlobalData“With today’s announcement, we continue to deliver on our farm-down programme with a transaction that meets our strategic objectives for partnerships and divestments in terms of value creation, risk diversification and capital recycling.”
The firm’s existing partnership with Ørsted extends to four other offshore wind farms: Walney, Burbo Bank Extension, Hornsea 1 and Borkum Riffgrund 1.
Ørsted will maintain a 25.5% interest in the wind farm and continue to operate it under the current operations and maintenance agreement.
The move is part of Ørsted’s larger strategy to expand its offshore wind capacity through a self-funded construction programme of more than 8GW.
It has engaged the services of energy and marine consultancy ABL for marine warranty surveying (MWS) related to the offshore transportation and installation of wind turbines and cables at the Greater Changhua 2b and 4 offshore wind farms in Taiwan.
ABL’s involvement includes the review, survey and approval of all operations concerning the transportation and installation of wind turbines and subsea cables.
This follows ABL’s previous MWS work on the 900MW Greater Changhua 1 and 2a offshore wind farms, which were both completed in 2022.
