Ørsted has completed the sale of a 24.5 per cent stake in the 389 MW West of Duddon Sands offshore wind farm to funds managed by Schroders Greencoat. The transaction is valued at GBP 456.1 million on a debt-free basis. Located around 14 km off the west coast of the UK, the wind farm has been operational since 2014.
The deal further strengthens the partnership between Ørsted and Schroders Greencoat, which already co-own stakes in four offshore wind projects: Walney, Burbo Bank Extension, Hornsea 1, and Borkum Riffgrund 1. Post-transaction, Ørsted will retain a 25.5 per cent consolidated interest in the project and will continue to operate the wind farm under the existing operations and maintenance agreement.
Schroders Greencoat is a leading investor in renewable infrastructure assets, managing over 7 GW of net generating capacity and GBP 9.6 billion in assets under management. In January 2025, Ørsted inked a partnership agreement with Brookfield and its listed affiliate Brookfield Renewables that will acquire a 12.45 per cent minority stake in four of Ørsted’s operational offshore wind farms.
