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Home > Finance > Orsted sells 50% stake in Greater Changhua 4 wind farm for $1.64 billion

Finance

Orsted sells 50% stake in Greater Changhua 4 wind farm for $1.64 billion

Published by Global Banking and Finance Review

Posted on December 11, 2024

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COPENHAGEN (Reuters) - Denmark's Orsted said on Wednesday it has agreed to sell a 50% stake in its Greater Changhua 4 offshore wind farm to Taiwan's Cathay Life Insurance for about 11.6 billion Danish crowns ($1.64 billion).

The Greater Changhua 4 site is part of Orsted's 920 megawatt (MW) offshore wind farms Greater Changhua 2b and 4, which the company is currently constructing and expects to finalise by the end of 2025.

Orsted will continue to own the remaining 50% ownership stake in the wind farm, Orsted said.

The transaction amount will be paid in 2024 and 2025, it added.

($1 = 7.0847 Danish crowns)

(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)

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