Schroders Greencoat completed the acquisition of a 24.5% stake in West of Duddon Sands from Ørsted.

Schroders Greencoat, a renewable infrastructure asset investment firm, completed the acquisition of a 24.5% stake in West of Duddon Sands, an offshore wind farm, from Ørsted, a Danish multinational energy company, for £456.1m. “Farm-downs and partnerships are an integral part of Ørsted’s business model, and we’re pleased to expand our partnership with Schroders Greencoat, who has a proven track record in managing renewable energy infrastructure assets and is a highly valued partner to Ørsted. With today’s announcement we continue to deliver on our farm-down programme with a transaction that meets our strategic objectives for partnerships and divestments in terms of value creation, risk diversification, and capital recycling,” Trond Westlie, Ørsted Group CFO.