Orsted, a Danish company, announced on Wednesday that it had sold a 12.45% stake in four of the British offshore wind farms currently in operation to Brookfield for a total amount of 1.75 billion pounds (2.28 billion dollars).

Orsted's CEO Mads Nipper stated in a press release that "today's transaction represents an important milestone for the farm-down program as part of our strategic plan and supports our significant reinvestment in our new assets."

Orsted is fighting to restore investor trust

February

As part of an extensive review, the company lowered its investment and capability targets and suspended dividend payments.

The transaction is expected to be completed by the end this year. It includes stakes in Hornsea 1, Hornsea 2 and Walney Extension as well as Burbo bank extension.

In a statement, Connor Teskey said, "This is Brookfield’s first investment into UK offshore wind. Offshore wind will continue to play a crucial role in our energy mix, and support the increasing demand for clean energy."

Orsted said that it would retain a 37,55% ownership stake in the wind farms.

(source: Reuters)