ENGIE has agreed to purchase Ostwind France, including its subsidiaries OSTWIND International S.A.S. and OSTWIND Engineering S.A., from Ørsted. This acquisition encompasses Ørsted’s onshore wind and solar business in France. The deal is expected to conclude in the second quarter of 2024. With this Ørsted will exit the French renewables market.
Ørsted had acquired the Ostwind France business in 2022 as part of the acquisition deal of the French and German onshore platform from Ostwind. While the French business is being sold to ENGIE, the German part has been fully integrated into Ørsted. Overall, the Ostwind France business has been developing wind power projects for two decades and has 54 MW of operating capacity, 24 MW under construction and a wider pipeline of projects.
In March 2024, Ørsted struck a deal with Stonepeak to sell off a part of its ownership in a portfolio of four US onshore wind farms, with a total capacity of 957 MW. This was Ørsted’s second significant divestment of multiple assets in the US as part of its updated business strategy. .
REGlobal’s Views: Ørsted has an updated business strategy and as part of this, the company will focus on only certain markets for onshore wind and solar in Europe. These countries include the UK, Ireland, Germany and Spain, and this sale of the French wind assets is a part of this updated business strategy.
