Ørsted is acquiring the remaining 49.9% stake it does not already own in a 172MW UK offshore wind farm from its investment partners for approximately £15m (€17.7m).
Ørsted said it has exercised a long-standing buyback right for the Gunfleet Sands 1 & 2 Offshore Wind Farm, in which it currently holds a 50.1% interest.
The energy firm said the transaction will enable it to capture the full potential of the asset and provide greater flexibility in managing the site, including assessing future late-life options such as a potential lifetime extension.
Located 7km off the Essex coast, the operational wind farm has been generating power since 2010. Richard Bodal Hansen, Ørsted’s UK country manager, said: “Gunfleet Sands 1 & 2 has been part of the UK’s renewable energy story since 2010, and we’re proud of the contribution it continues to make. Taking full ownership gives us greater flexibility to shape the site’s future and build on the value of an asset we know well.”
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