Ørsted has signed an agreement to divest its remaining 25% share in the London Array offshore wind farm, 20 km from the Kent coast in southeast England, for £717 million ($919 million).
FREDERICIA, Denmark— Ørsted has signed an agreement to divest its remaining 25% share in the London Array offshore wind farm, 20 km from the Kent coast in southeast England, for £717 million ($919 million).
The buyer is Greencoat UK Wind, along with funds managed by Schroders Greencoat, an asset manager focusing on renewable energy infrastructure.
London Array is a 175-turbine, 630-MW development in the outer Thames Estuary, maintained and operated from the Port of Ramsgate.
Operations started in 2013 with Ørsted originally owning 50% of the project.
