Wind Energy – Ownership
Ørsted has signed an agreement to divest a 50 % ownership stake in its 1.3 GW Hornsea 2 Offshore Wind Farm in the UK to a consortium comprising AXA IM Alts, acting on behalf of clients, and Crédit Agricole Assurances.
Hornsea 2 is currently under construction and will become the world’s largest offshore wind farm once commissioned later in 2022.
The total value of the transaction is GBP 3 billion, and the transaction is expected to close in the second half of 2022 once the wind farm is fully commissioned and customary regulatory approvals are obtained.
AXA IM Alts and Crédit Agricole Assurances will then each own 25 % of the project.
Martin Neubert, Chief Commercial Officer and Deputy Group CEO at Ørsted, said: “We’re delighted to partner with AXA IM Alts and Crédit Agricole Assurances, two world-leading financial institutions, which are committed to accelerate the transition to a carbon-neutral economy in line with the Paris Agreement – thereby supporting the urgently needed shift from fossil-based to renewable energy sources.”