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New Deal


Announced

Completed

PSEG completed the acquisition of a 25% stake in Ocean Wind from Orsted.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For25%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Completed

Minority

United States

Friendly

Acquisition

Private

Alternative Fuels

Domestic

Single Bidder

wind energy

Synopsis

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Public Service Enterprise Group, a diversified energy company, completed the acquisition of a 25% stake in Ocean Wind, a wind farm project from Orsted, an energy company. Financial terms were not disclosed. "From creating jobs and strengthening the economy to investing in infrastructure and bringing gigawatts of renewable energy to our coast, offshore wind is critical to New Jersey's future. PSEG is pleased to close on its investment in Ocean Wind and looks forward to working with Orsted to bring clean energy and new industry to the state," Ralph Izzo, PSEG Chairman, President and CEO.

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