Denmark-based offshore wind developer Ørsted has divested 25% of the London Array Offshore Wind Farm.
Ørsted in July, signed an agreement with funds managed by Schroders Greencoat, a global specialist asset manager focusing on renewable energy infrastructure assets, to divest its remaining 25% minority interest in the London Array Offshore Wind Farm in the UK.
The total value of the transaction is GBP 717 million. The transaction is now complete.
London Array has a total installed capacity of 630 MW and entered commercial operation in 2013. Ørsted originally owned 50% of the project and divested an initial 25% of London Array to CDPQ in 2014.
Ørsted said in July it did not have O&M responsibility at London Array, and as the company only held a minority interest. Ørsted considered the asset non-strategic.
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