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Announced

Orsted completed the acquisition of Coronal Energy development business.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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energy storage project

Friendly

solar energy

Majority

Acquisition

Renewable Energy Equipment

Single Bidder

United States

Private

Completed

Synopsis

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Orsted, a developer of US renewables, through its subsidiary Lincoln Clean Energy, completed the acquisition of Coronal Energy development business, a utility-scale solar and energy storage projects developer. Financial terms were not disclosed. "I am delighted to welcome the Coronal team to LCE and the wider Orsted family. The highly experienced Coronal Energy development team compliments our US development platform, greatly enhances our presence in solar and storage, and importantly brings new customer relationships through multiple long-term power purchase agreements both signed and in negotiation," Declan Flanagan, Lincoln Clean Energy CEO.

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