Photo by ZHANG FENGSHENG on Unsplash
Danish energy company Ørsted has agreed to divest Ostwind, its onshore wind and solar business in France, to ENGIE.
The transaction, expected to close in Q2 of 2024, will mark the end of Ørsted’s activities in France.
Kieran White, senior vice president and head of Onshore in Region Europe at Ørsted, commented in a statement: “As part of our updated business plan, we revised our build-out ambitions towards 2030 with an emphasis on where we believe we can realise the most value for Ørsted.
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“Building on this plan, we’ve decided to concentrate our efforts on the UK, Irish, German, and Spanish markets for onshore wind and solar, in Europe. In this light, I’m very pleased that we’ve found a good future owner of Ostwind France in ENGIE.”
The Ostwind France business has been developing renewable projects for more than 20 years. It is a well-established player with 54MW in operation and a further 24MW of wind projects under construction. In addition, Ostwind France is continuing to advance a wider pipeline of projects.
Ørsted acquired Ostwind France in 2022 as part of the acquisition of the French and German onshore platform from Ostwind AG. The German part of the Ostwind transaction has been integrated fully into Ørsted and will remain a focus of Ørsted’s European onshore wind and solar investments.
