Hornsea One offshore wind farm: How did Orsted and GIP monetize their investments in one of the world’s largest offshore wind farms?

published on 04 August 2022

In light of the recent sale of a 12.5% stake in the 1.2 GW Hornsea One offshore wind project in the UK, the Enerdatics research team has analyzed the growth in the project's enterprise value (EV) since Orsted consolidated its position in the asset in 2015. The wind farm, which was projected to cost £6bn as per a 2016 estimate by Orsted, is now trading at an EV of £9bn, excluding the transmission assets, which were sold separately for ~£1.2bn.

The above slide summarizes our findings, which focus on the transactions and financing agreements that have contributed to the massive growth in the wind farm's value.

The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.

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