August.23.2023
Ørsted has divested its remaining twenty-five per cent (25%) interest in the London Array Offshore Wind Farm to funds managed by Schroders Greencoat (a global specialist asset manager focusing on renewable energy infrastructure assets).
The London Array Offshore Wind Farm entered commercial operation in 2013 and has a total installed capacity of 630MW. Orrick advised Ørsted on the disposal, continuing its long-standing relationship with Ørsted and following shortly after Orrick's role advising Ørsted (and its joint venture partner) on the recent GBP1.141 billion sale of the transmission assets of the 1.3GW Hornsea Two offshore windfarm to Diamond Transmission Partners (a consortium of HICL Infrastructure PLC and Mitsubishi Corporation).
THE COMPANY
Headquartered in Denmark, Ørsted is the largest player in UK offshore wind, operating projects with more than 5 GW of capacity. Its development pipeline includes the 2.8 GW Hornsea 3 project, the world’s single largest offshore wind farm, and Hornsea 4, which received consent in mid-July.
THE IMPACT
With the divestment, Ørsted continues its record of recycling capital to help fund its significant ongoing investment program and support the UK's green transformation.
THE TEAM
The multi-disciplinary Orrick team that advised Ørsted comprised Ravinder Sandhu, Simon Alsey, Adam Smith, Simon Folley, Jonathan Rosen, Mark Beeley, Rebecca Downes, Rebecca Grevitt, David O’Donovan, Barry Cahill, Nicholas Villalta and Andrew Holland.
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