COPENHAGEN: Danish energy company Ørsted has completed the sale of a 24.5% stake in the West of Duddon Sands Offshore Wind Farm to Schroders Greencoat for £456.1 million (approximately DKK 4 billion). The transaction, part of Ørsted’s partnership and divestment program, was finalized on April 30, 2025.
Located 14 kilometers off the UK’s west coast, the West of Duddon Sands Offshore Wind Farm has been operational since 2014 and boasts a capacity of 389 megawatts. Ørsted will retain a 25.5% interest in the project and continue to operate the facility under its existing operations and maintenance agreement.
Schroders Greencoat, a leading renewable infrastructure investment firm managing over 7 gigawatts of net generating capacity and £9.6 billion in assets, expands its collaboration with Ørsted through this acquisition. The firm has partnered with Ørsted on several other projects, including Walney, Burbo Bank Extension, Hornsea 1, and Borkum Riffgrund 1 offshore wind farms.
“Farm-downs and partnerships are an integral part of Ørsted’s business model,” said Trond Westlie, Group CFO of Ørsted. “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.”
The transaction aligns with Ørsted’s broader strategy to secure a robust capital structure, diversify risks, and recycle capital. The company is executing an ambitious plan to construct over 8 gigawatts of offshore wind capacity, nearly doubling its current installed base and cementing its position as a global leader in renewable energy.
As the UK’s leading offshore wind developer, Ørsted operates more than 5 gigawatts of capacity in British waters and has an additional 5 gigawatts in development, including the Hornsea 3 and Hornsea 4 projects. Globally, Ørsted has installed 18.5 gigawatts of renewable energy capacity, with a further 8 gigawatts under construction.