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Home›Business & Finance›Ørsted Completes London Array Exit
Business & Finance

August 17, 2023 · about 2 years ago

Ørsted Completes London Array Exit

Ørsted has completed the divestment of 25 per cent of the London Array offshore wind farm in the UK to funds managed by Schroders Greencoat. The company, which held a minority interest in the 630 MW offshore wind farm since 2014 and did not have operations and maintenance (O&M) responsibility on the

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Ørsted Completes London Array Exit

Last month, Daniel Lerup, Ørsted’s Chief Financial Officer, said that with this divestment the company continued its track record of efficiently recycling capital to help fund its DKK 475 billion (approx. EUR 63.7 billion; GBP 54.5 billion) investment programme towards 2030.

“Ørsted remains committed to the UK offshore wind market and will continue to make significant investments in the country’s green transformation both onshore- and offshore” , Daniel Lerup said.

London Array, located over 20 kilometres off the Kent coast, comprises 175 Siemens Gamesa’s 3.6 MW wind turbines and is being operated and maintained by RWE from the Port of Ramsgate.

The 630 MW offshore wind farm, which has been in operation since 2013, is capable of generating enough clean electricity to power around half a million British households.

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