Orsted Completes 50 Percent Share Sale of Hornsea 2 Offshore Wind Farm


Ørsted has completed the divestment of 50% of the Hornsea 2 Offshore Wind Farm to a consortium comprising AXA IM Alts, acting on behalf of clients, and Crédit Agricole Assurances.

The total value of the transaction is GBP 3 billion. AXA IM Alts and Crédit Agricole Assurances will each own 25% of the project. The investors’ 50% stake in Hornsea 2 will be funded through a combination of equity and a senior multi-tranche staple financing package provided by 30 banks and including a covered tranche guaranteed by EKF, Denmark’s export credit agency. The financing package was originated and structured by Ørsted.

Spanning an offshore area of 462 km², Hornsea 2 is located 89 km off the Yorkshire coast in the Hornsea zone. With a capacity of 1.3 GW, Hornsea 2 will provide enough green electricity to power the equivalent of more than 1.3 million homes annually.

Ørsted will provide long-term operations and maintenance (O&M) services for 20 years from its O&M base at the Port of Grimsby. Furthermore, Ørsted will provide the incoming partners with balancing services and a long-term route to market for the renewable electricity generated from Hornsea 2.

Notify of
Inline Feedbacks
View all comments