Brookfield and its listed affiliate Brookfield Renewable have plans to acquire a 12.45 percent minority stakes in four of Ørsted’s operational U.K. offshore wind farms: Hornsea 1, Hornsea 2, Walney Extension and Burbo Bank Extension, which have a combined total capacity of approximately 3.5 gigawatts.
The enterprise value of the transaction is $2.3 billion, with $570 million net to Brookfield Renewable.
Ørsted will retain a 37.55 percent ownership interest in the four assets and will continue to exercise a similar level of control and governance as before the transaction. Ørsted also will continue to oversee the operations and maintenance of the wind farms. All four assets are fully operational under long-term inflation-linked contracts for difference (CfD).
With this transaction, Ørsted makes significant progress on the farm-down program announced as part of the February business plan update, while ensuring a high level of value retention within the trans
