Ørsted Sells 24.5% Stake in West of Duddon Sands Wind Farm

Danish offshore wind giant Ørsted has sold a 24.5% ownership stake in its 389MW West of Duddon Sands offshore wind farm to funds managed by Schroders Greencoat.

Schroders Greencoat, which oversees £9.6 billion ($12.75 billion) in assets and boasts over 7GW of net generating capacity, is no stranger to Ørsted. The firm already co-owns stakes in four other Ørsted projects: Walney, Burbo Bank Extension, Hornsea 1, and Borkum Riffgrund 1.

This latest deal is valued at $456.1 million ($606.3 million on a debt-free basis) and officially closed on April 30, 2025. The West of Duddon Sands wind farm, located 14 kilometers off the west coast of the UK, has been operational since 2014.

Following the sale, Ørsted will retain a 25.5% pro-rata consolidated stake and will continue to manage the wind farm under its existing operations and maintenance agreement.

“We continue to deliver on our farm-down programme with a transaction that meets our strategic objectives for partnerships and divestments in terms of value creation, risk diversification, and capital recycling,” said Trond Westlie, group CFO of Ørsted.

With this sale, Ørsted remains focused on its ambitious, self-funded construction plan to add more than 8GW of offshore wind capacity — a buildout that will nearly double the company’s current installed offshore wind portfolio.