Danish renewable energy developer Orsted has completed the sale of 12.45% minority stakes in four UK wind farms to Brookfield, a global investment firm. The transaction involves shares in Hornsea 1, Hornsea 2, Walney Extension, and Burbo Bank Extension, with a combined capacity of 3.5GW under long-term contracts for difference. The deal, valued at approximately £1.745 billion, was first announced in October.
The divestment enables Orsted to rebalance its portfolio while retaining a significant 37.55% ownership interest across the four wind farms. These assets play a critical role in the UK's renewable energy infrastructure and contribute significantly to the nation's clean energy targets.
“This transaction aligns with our strategy to optimize our asset portfolio and focus on developing and constructing new renewable energy projects,” Orsted said in a statement. The company emphasized its commitment to advancing global renewable energy initiatives by reallocating resources to support future projects.
Brookfield's acquisition reflects its growing focus on renewable energy investments, particularly in offshore wind. By adding these assets to its portfolio, Brookfield strengthens its presence in the UK's offshore wind market, which is integral to meeting the country's energy transition goals.
The wind farms involved in the deal include some of the largest and most advanced offshore facilities in the world. Hornsea 2, for instance, holds the distinction of being the largest operational offshore wind farm globally. Walney Extension and Burbo Bank Extension also stand out for their contributions to sustainable energy production in the region.
The sale underscores Orsted's strategy to optimize its financial and operational resources. While the company retains a meaningful stake in the wind farms, it plans to channel the proceeds into new developments, including large-scale offshore and onshore renewable projects worldwide.
This transaction highlights the broader trend of strategic partnerships and investments within the renewable energy sector, as companies adapt to evolving market dynamics and the increasing global demand for clean energy.
