Danish energy group Ørsted A/S (CPH:ORSTED) said on Tuesday that it has closed the sale of a 50% stake in the 235-MW Gode Wind 3 offshore wind farm project to funds managed by Nuveen’s Glennmont Partners.
The deal carried a price tag of EUR 473 million (USD 510.4m), which included the value of the stake purchase and a commitment from the buyer to cover half of the construction costs, according to the divestment agreement announced on October this year.
The Gode 3 wind farm is currently under construction in the German waters of the North Sea. It is expected to become operational in 2024.
Glennmont also co-owns Ørsted’s Gode Wind 1 offshore wind farm, which is operational, and has a 50% interest in the Borkum Riffgrund 3 offshore wind project, currently under construction in the German North Sea.
(EUR 1.0 = USD 1.079)