Orsted JV to sell Hornsea 2 Transmission Assets Worth $1.47B

Louise Breusch Rasmussen Published Jul 21, 2023 7:03 am ET

Hornsea 2 is an offshore wind farm in the UK, located approximately 90 km off the Yorkshire coast in the North Sea. The wind farm consists of 165 Siemens Gamesa 8 MW wind turbines with an overall capacity of 1,320 MW, enough to power more than 1.4 million British homes.- Image Credit: Orsted (file photo)

A joint venture half-owned by Denmark's Orsted has agreed to sell the transmission assets of the Hornsea 2 wind farm offshore Britain to Diamond Transmission Partners Hornsea Two (DTP), the Danish energy group said on Friday.

Orsted, which owns the joint venture together with AXA IM Alts and Credit Agricole Assurances, said in a statement the assets were valued at 1.141 billion pounds ($1.47 billion).

The transmission assets include the onshore substation, export cables, the offshore reactive compensation substation, and the offshore substation, Orsted said in a statement.

Orsted said it would provide DTP with operations and maintenance services for the transmission assets under a long-term agreement. ($1 = 0.7757 pounds)

(Reuters - Reporting by Louise Breusch Rasmussen, editing by Anna Ringstrom and Jason Neely)