Orsted and Engie have inked a share purchase agreement, paving the way for the acquisition of Orsted's onshore wind and solar business in France by the French energy giant Engie. The deal encompasses Ostwind International SAS, Ostwind Engineering SA, and their subsidiaries, collectively known as Ostwind France.
The transaction, slated for closure in the second quarter of 2024, marks a significant development in Orsted's updated business plan, as elucidated by Kieran White, the company's senior vice president and head of onshore in region Europe. White emphasized Orsted's revised build-out ambitions towards 2030, focusing on key markets including the UK, Ireland, Germany, and Spain.
“I'm very pleased that we've found a good future owner of Ostwind France in Engie,” White remarked.
Ostwind France, boasting a legacy of over two decades in renewable project development, currently operates 54MW of renewable capacity, with an additional 24MW of wind projects under construction in France. Orsted originally acquired Ostwind France in 2022 as part of its larger acquisition of the French and German onshore platform from Ostwind AG.
Following the divestment, Orsted will redirect its focus away from France, channeling efforts into bolstering its presence in other European markets. The German segment of the Ostwind transaction has already been seamlessly integrated into Orsted, maintaining its status as a focal point for the company's European onshore wind and solar investments.
Engie Green managing director William Arkwright expressed enthusiasm about the acquisition, noting, “This integration contributes to our ambition to actively contribute to the development of renewable energies in France.”
