(BRIEF) Ørsted, a global leader in renewable energy, is selling its French onshore operations to ENGIE as part of its strategic realignment towards Europe’s leading onshore renewable energy markets. The percentage acquisition agreement includes the sale of OSTWIND International S. A. S. and OSTWIND Engineering S. A. , marking a shift of Ørsted to the UK, Ireland, Germany and Spain for investments in onshore wind and solar. With this transaction, Ørsted points to its efforts where it sees the maximum price while advancing its projects in the remaining European markets.
(PRESS RELEASE) FREDERICIA, April 29, 2024 — /EuropaWire/ — Ørsted will sell its French onshore business to ENGIE based on the strategic prioritization of other European onshore renewable energy markets.
Ørsted and ENGIE have signed a percentage acquisition agreement under which ENGIE will acquire OSTWIND International S. A. S. , OSTWIND Engineering S. A. and its subsidiaries (jointly Ostwind France), Ørsted’s onshore solar and wind business in France. The transaction is expected to close in the second quarter. of 2024.
Kieran White, Senior Vice President and Head of Onshore Europe at Ørsted, said:
“As part of our updated business plan, we have revised our growth ambitions for 2030 with a focus on spaces where we can achieve the maximum price for Ørsted. Based on this plan, we have made the decision to concentrate our efforts on the solar and onshore wind markets of the UK, Ireland, Germany and Spain in Europe. With this in mind, I am very pleased that we have discovered in ENGIE a smart long-term owner of Ostwind France.
Ostwind France’s business has been developing renewable projects for more than 20 years. It is a well-established player with 54 MW in operation and another 24 MW under construction from wind projects. In addition, Ostwind France continues to expand its cartera. de projects.
Ørsted acquired Ostwind France in 2022 as part of the acquisition of the French and German onshore platform from Ostwind AG. The German component of the Ostwind transaction has been fully incorporated into Ørsted and will continue to be the hub of Ørsted’s European solar and onshore wind investments. Ørsted’s German onshore wind business has successfully completed a number of projects towards an ultimate investment solution and continues to expand a large portfolio of onshore wind and solar PV projects.
With the sale of Ostwind France, Ørsted will no longer have any in France.
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SOURCE: Ørsted A/S
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