In a pivotal decision, Ørsted has signed an agreement with ENGIE to divest its French onshore wind and solar operations, including OSTWIND International and OSTWIND Engineering. The deal, set to finalize in the second quarter of 2024, will see Orsted completely withdrawing from the French market.
💼 Current Portfolio Details:
-- Active Projects: Operating 54 MW.
-- Under Construction: 24 MW.
-- Development Pipeline: Ongoing expansion of additional projects.
This exit comes less than two years after Orsted acquired the French and German onshore platforms from OSTWIND AG in Jul '22. Meanwhile, the German operations have been successfully integrated into the main business and remain a key focus within Orsted’s European strategy.
♟️ Strategic Refocus:
-- Following a net loss of over €2.7bn, Orsted is sharpening its focus on select markets with higher potential returns.
-- The strategic shift emphasizes core areas: the UK, Ireland, Germany, and Spain.
This divestiture aligns with Orsted’s broader business strategy to optimize its asset portfolio and strengthen financial performance, targeting regions that offer the most substantial growth opportunities in the renewable energy sector.
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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