Ørsted has completed the divestment of a 24.5% stake in the West of Duddon Sands Offshore Wind Farm to funds managed by Schroders Greencoat, in a transaction valued at £456.1 million (approximately $608 million) on a debt-free basis. The deal was finalised on 30 April 2025.
Located around 14 km off the west coast of the UK, the 389 MW offshore wind farm has been operational since 2014. Ørsted will retain a 25.5% interest and continue to serve as operator under the existing operations and maintenance agreement.
The sale supports Ørsted’s wider partnership and capital recycling strategy aimed at maintaining a robust capital structure while diversifying risk. It also builds on an established collaboration between the two companies—Schroders Greencoat is already a partner on four other Ørsted offshore wind farms: Walney, Burbo Bank Extension, Hornsea 1, and Borkum Riffgrund 1.
Trond Westlie, Group CFO of Ørsted, commented: “Farm-downs and partnerships are an integral part of Ørsted’s business model, and we’re pleased to expand our partnership with Schroders Greencoat. This transaction aligns with our strategic objectives of value creation, risk diversification, and capital recycling.”
Schroders Greencoat is a major player in renewable infrastructure, with over 7 GW of net generating capacity and £9.6 billion in assets under management.
The transaction comes as Ørsted pursues an ambitious self-funded construction programme of over 8 GW in offshore wind, which will nearly double its current installed capacity and reinforce its position as a global leader in the sector. In the UK alone, the company operates more than 5 GW of offshore wind capacity and is developing a further 5 GW, including the Hornsea 3 and Hornsea 4 projects, both of which have secured Contracts for Difference (CfDs).
Globally, Ørsted has installed 18.5 GW of renewable energy capacity across offshore and onshore wind, solar PV, and battery storage, with over 8 GW currently under construction.
