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Ørsted has signed an agreement with funds managed by Schroders Greencoat, a global asset manager focusing on renewable energy infrastructure assets, to divest its remaining 25 % minority interest in the London Array Offshore Wind Farm in the UK.
The total value of the transaction is GBP 717 million (DKK 6.17 billion). London Array has a total installed capacity of 630 MW and entered commercial operation in 2013. Ørsted originally owned 50 % of the project and divested an initial 25 % of London Array to CDPQ in 2014. Ørsted does not have O&M responsibility at London Array. The transaction is expected to close at the end of July. The gain from the transaction will be part of ‘EBITDA from new partnerships’.