Ørsted to sell 50% of Walney Extension to Danish pension funds
Danish utility Ørsted A/S (CPH:ORSTED), formerly Dong Energy A/S, announced today it has inked a deal to sell a 50% stake in the 659-MW Walney Extension offshore wind project to pension funds PKA and PFA.
Each of the two Danish pension funds will acquire a 25% stake in the project and, together, they are committing to fund 50% of the payments under the engineering, procurement and construction (EPC) contract for the entire wind park, including the transmission assets. The total sales price thus amounts to GBP 2 billion (USD 2.66bn/EUR 2.29bn) and will be paid this and next year.
The transaction is expected to be closed by the end of the year, subject to regulatory clearance.
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