Ørsted has exercised a buyback right to acquire the remaining 49.9 per cent stake in the 172 MW Gunfleet Sands 1 & 2 offshore wind farm in the UK for approximately GBP 15 million (nearly EUR 18 million).
The transaction is subject to customary closing conditions and is expected to be completed in November 2026, when Ørsted will take full ownership of the asset.
The acquisition follows the exercise of a buyback right established under the original partnership agreements for the wind farm, which has been owned by Ørsted (50.1 per cent), the Development Bank of Japan (24.95 per cent) and JERA Nex BP (24.95 per cent).
Ørsted said full ownership would give it greater flexibility in managing the wind farm and assessing future options for the site, including a potential lifetime extension. The company also said it would continue to assess similar rights and opportunities on a case-by-case basis, taking into account the specific merits of each asset.
Gunfleet Sands 1 & 2, located 7 kilometres off the coast of Essex County, comprises 48 Siemens Gamesa 3.6 MW wind turbines and was fully commissioned in April 2010.