Deal Marks End of Danish Group’s Activities in France
Ørsted has agreed to sell Ostwind, its onshore wind and solar business in France, to Engie, a move the Denmark-based wind farm developer said would allow it to prioritize other western European markets.
The deal, expected to close by the end of June, will mark the end of Ørsted’s activities in France.
“As part of our updated business plan, we revised our build-out ambitions towards 2030 with an emphasis on where we believe we can realize the most value for Ørsted,” said Kieran White, senior vice president and head of onshore in Region Europe at Ørsted.
“Building on this plan, we’ve decided to concentrate our efforts on the UK, Irish, German, and Spanish markets for onshore wind and solar, in Europe. In this light, I’m very pleased that we’ve found a good future owner of Ostwind France in ENGIE.”
Ostwind France has been developing renewable energy projects for over two decades, boasting 54 megawatts (MW) in operation and 24 MW of wind projects under construction.
Ørsted bought Ostwind France in 2022 as part of its acquisition of French and German onshore group Ostwind. The German part of the Ostwind transaction has been fully integrated into Ørsted and would remain a focus of its European onshore wind and solar investments, the Danish firm said.
“Ørsted’s German onshore wind business has successfully advanced a number of projects towards final investment decision and continues to develop an attractive pipeline of onshore wind and solar PV projects,” the developer said.
Ørsted is a member of the Breakbulk Global Shipper Network.
The next in-person meet-up for BGSN members will be at Breakbulk Europe 2024 on 21-23 May at Rotterdam Ahoy.
