Ørsted Sells Stake in UK Offshore Wind Farms to Brookfield

Ørsted has announced a partnership with Brookfield, whereby Brookfield will acquire a 12.45% stake in Ørsted's four UK offshore wind farms, totaling 3.5 GW capacity. The transaction's value is GBP 1.745 billion and is expected to conclude by the end of 2024, following regulatory approvals. This sale is part of Ørsted's strategic farm-down program, aiming to sustain value while boosting reinvestment.

Brookfield's investment marks its entry into the UK offshore wind sector, aligning with the UK's renewable energy goals. Ørsted retains a 37.55% ownership and will manage operations as per existing agreements. This move supports Ørsted's focus on green energy and expands Brookfield's renewable portfolio.