The Danish power company Ørsted (formerly known as DONG Energy) will sell its 50% ownership interest in the 870 MW Enecogen gas-fired power plant in Rotterdam (Netherlands) to a wholly-owned affiliate of Castleton Commodities International. The transaction is subject to regulatory approvals and customary closing conditions and the closing is expected to take place in the third quarter of 2018.
After the divestment, Ørsted will no longer own power plants outside of Denmark. In Denmark, Ørsted still owns and operates seven combined heat and power (CHP) plants, two heat backup plants and one power backup plant. Most of them have been or are being converted from fossil fuels to biomass as the group plans to phase out coal by 2023. Ørsted plans to focus on the offshore wind business. The share of renewable energies in the company's portfolio rose from 13% in 2006 to 64% in December 2017 and is scheduled to reach the 95% milestone in 2023.
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