Cathay Life Insurance completed the acquisition of a 50% majority stake in Greater Changhua 4 from Orsted for DKK11.6bn.

Cathay Life Insurance, a life insurance company, completed the acquisition of a 50% majority stake in Greater Changhua 4, an offshore wind farm, from Orsted, an utility services company, for DKK11.6bn. “We’re pleased to apply our partnership model in Asia Pacific once again and advance the development of offshore wind in the region with Cathay, with whom we have great collaboration experience. We’re satisfied with the transaction as it represents another important milestone in our partnership and divestment programme and ensures further progress towards our mid- and long-term targets,” Rasmus Errboe, Ørsted Deputy CEO and CCO.