In response to “media speculation,” Ørsted confirmed today it is in exclusive discussions regarding a 50% farm-down of its Hornsea Project 1 offshore wind farm.
As communicated in Ørsted’s annual report for 2017, the company expects a 50% farm-down of the U.K. project in either the second half of this year or in 2019. However, the company notes it cannot give any assurances as to when/if the transaction would happen.
Once completed in 2020, Hornsea Project 1, touted as the biggest offshore wind farm in the world, will produce enough energy to power over 1 million homes. With a capacity of 1.2 GW, Hornsea Project One will also be the world’s first offshore wind farm to exceed 1 GW in capacity, according to Ørsted.
At the beginning of 2016, the company made a final investment decision to build the wind farm. Comprising Siemens Gamesa 7 MW turbines, Hornsea, located 120 kilometers off the Yorkshire coast, covers approximately 407 square kilometers. Having acquired the project’s remaining 66.66% ownership share from Smart Wind in February 2015, Ørsted is the sole owner of the wind farm.
