- (PLX AI) - Ørsted brings in Glennmont Partners as a 50% shareholder of Borkum Riffgrund 3 Offshore Wind Farm.
- • Ørsted has signed an agreement with Glennmont, who will be acquiring a 50 % ownership share in Ørsted's 900 MW German offshore wind farm Borkum Riffgrund 3
- • The wind farm, which was awarded at EUR 0 per MWh in 2017 and 2018, is expected to be commissioned in 2025, subject to Ørsted's final investment decision, which is expected by the end of 2021
- • The transaction is Ørsted's first farm-down to an institutional investor to be signed prior to taking final investment decision on the project
- • The total transaction value, at completion of the transaction, is expected to amount to approximately DKK 9 billion, which comprises the price for the acquisition of a 50 % ownership share and the commitment to fund 50 % of the payments under the EPC contract for the entire wind farm