Ørsted sells 50% ownership of Hornsea 1 Offshore Wind Farm

Ørsted sells 50% ownership of Hornsea 1 Offshore Wind Farm

Danish energy firm Ørsted, formerly Dong Energy, signed an agreement to sell 50% ownership of the Hornsea 1 Offshore Wind Farm to Global Infrastructure Partners (GIP).

As part of the agreement, Ørsted will construct the wind farm under a full-scope EPC contract and will also provide long-term operations and maintenance services.

The total sales price of the deal amounts to approximately GBP4.46bn ($5.86bn) which comprises the price for the acquisition of a 50% ownership share and the commitment to fund 50% of the payments under the EPC contract for the entire wind farm.

Hornsea 1 is currently under construction and will be the world’s largest offshore wind farm when commissioned in 2020.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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