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Ørsted discussing sale of 50% stake in 1,200-MW offshore wind facility in UK

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Ørsted discussing sale of 50% stake in 1,200-MW offshore wind facility in UK

Ørsted A/S, a Danish offshore wind developer, confirmed it is in discussions to sell a 50% stake in the 1,200-MW Hornsea 1 wind facility in the U.K. to an undisclosed buyer.

The company expects to complete the "farm-down" later this year or in 2019, but also warned in a Feb. 19 news release that the transaction may not be completed.

Ørsted recently began construction at the offshore wind project by installing 174 monopiles off the Yorkshire coast. It is expected to be brought online in 2020. At its current configuration, it would be the largest offshore wind energy facility in the world when completed, according to Ørsted.