Orsted A/S will still own nearly 38 per cent of the four wind farms Brookfield is buying into
Orsted , the largest developer of the offshore wind technology, has been selling down stakes in its wind assets as part of a major review launched earlier this year.is wading into the offshore wind sector with a US$2.3-billion investment to buy minority stakes in four wind farms off the coast of England from beleaguered energy company Orsted A/S
“This is Brookfield’s first investment in U.K. offshore wind, which will continue to be a critical part of the energy mix and to support the growing demand we see for clean energy,” Connor Teskey, chief executive officer of Brookfield Renewable and president of Brookfield Asset Management, said in a statement.
“We expect the company will continue to grow its offshore wind footprint,” RBC Dominion Securities Inc. analysts Nelson Ng and Shelby Tucker said in a note to clients. The offshore industry’s challenges have been evident at Orsted, which has been the largest developer of the technology but has been selling down stakes in its wind assets as part of a major review launched earlier this year. The company shook up its management team, wrote down the value of its portfolio and paused dividend payments.
Fund Investment Wind Energy Brookfield Orsted Company Brookfield Asset Management Public Investment Fund United Arab Emirates
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