Schroders Greencoat has acquired a 24.5% stake in the West of Duddon Sands offshore wind farm in the United Kingdom for £456.1 million ( US$601.35 million ).

Orsted is selling the interest as part of its regular capital recycling programme. It will retain a 25.5% pro-rata consolidated interest in the wind farm and remain the operator under an existing operations and maintenance agreement.



“Farm-downs and partnerships are an integral part of Orsted’s business model, and we’re pleased to expand our partnership with Schroders Greencoat, who has a proven track record in managing renewable energy infrastructure assets and is a highly valued partner to Orsted," says Orsted group chief financial officer Trond Westlie.

Located approximately 14 kilometres off the UK west coast, the 389-megawatt West of Duddon Sands has been operating since 2014.



Schroders Greencoat is a leader in renewable infrastructure asset investments with a combined net generating capacity of over 7 gigawatts and £9.6 billion in assets under management.

The transaction builds on a strong collaboration between Orsted and Schroders Greencoat, which is also an existing partner on four Orsted offshore wind farms – Walney, Burbo Bank Extension, Hornsea 1, and Borkum Riffgrund 1.