Orsted has completed its 50% divestment of the 900MW Borkum Riffgrund 3 offshore wind project in Germany to Glennmont Partners.
The divestment follows on from Orsted signing an agreement with Glennmont Partners in October 2019, when it stated the total transaction value, at completion of the transaction, is expected to amount to approximately Dkr9bn (€1.2bn).
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The wind farm, which was awarded at €0 per megawatt-hour in 2017 and 2018, is expected to be commissioned in 2025.
The information provided in Orsted’s announcement does not change the company’s financial outlook for the 2022 financial year or the expected investment level announced for 2022.