Ørsted Sells Stake in West of Duddon Sands Offshore Wind Farm

Danish offshore wind developer Ørsted has recently announced the sale of a 24.5% stake in the 389MW West of Duddon Sands offshore wind farm to funds managed by Schroders Greencoat. This transaction, valued at $456.1m, was completed on April 30, 2025.

Schroders Greencoat, with a combined net generating capacity of over 7GW and £9.6bn in assets under management, is no stranger to Ørsted’s offshore wind projects. The asset manager is also a partner in four other Ørsted offshore wind farms – Walney, Burbo Bank Extension, Hornsea 1, and Borkum Riffgrund 1.

The West of Duddon Sands wind farm, situated 14 km off the UK west coast, has been operational since 2014. Despite selling a majority stake, Ørsted will retain a 25.5% interest in the project and will continue to act as the operator under the existing operations and maintenance agreement.

Trond Westlie, group CFO of Ørsted, expressed satisfaction with the transaction, stating, “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.”

Looking ahead, Ørsted is focused on executing an ambitious more than 8GW offshore wind construction programme. This initiative aims to nearly double the company’s installed offshore wind capacity and solidify its position as a key player in the renewable energy sector.