Ørsted has signed an agreement to divest a 50% stake in its 1.3 GW Hornsea 2 offshore wind project in the United Kingdom to a consortium comprising AXA IM Alts and Crédit Agricole Assurances. AXA IM Alts and Crédit Agricole Assurances will then each own 25% of the project. The total value of the transaction is £3bn (€3.6bn), and the transaction is expected to close in the second half of 2022, once customary regulatory approvals are obtained and the power plant is fully commissioned.
Spanning an offshore area of 462 km², Hornsea 2 is located 89 km off the Yorkshire coast in the Hornsea zone. The project is currently under construction and it generated first power in December 2021; commissioning is scheduled for 2022. It will help the United Kingdom meet its target to achieve 40 GW of offshore wind capacity by 2030.
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