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 is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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