Orsted to buy back remaining stake in UK offshore wind farm for $20 million
Denmark’s Orsted will acquire the remaining stake in Britain’s Gunfleet Sands wind farm for £15 million ($20 million).
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what happened
Reuters reports that Denmark’s Orsted said on Monday it had exercised its right to buy back the remaining share of Britain’s Gunfleet Sands offshore wind farm for £15 million ($20 million). The transaction is expected to close in November and follows a buyback right included in the original partnership agreement.
Orsted previously held 50.1% of the 172-megawatt Gunfleet Sands 1 and 2 facility. Japanese power generator JERA owned 24.95%, while the Development Bank of Japan (DBJ) held the remaining 24.95%. The wind farm is located 7 km (4 miles) off southeastern Britain.
The purchase will enable Orsted to examine future options for the facility as it reaches the later stage of its operating life, including a possible lifetime extension, the company said. Gunfleet Sands 1 & 2 has been operating since 2010 and produces enough renewable electricity to supply more than 125,000 UK homes each year. Exchange rate: $1 = £0.7551.
why it matters
The transaction gives Orsted greater control of an operating UK offshore wind farm and allows it to assess options for extending the facility’s service life.
instruments
sources
- Orsted buys back British offshore windfarm stake for $20 million — Reuters, 12 October 2026 at 08:43 UTC
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