Ørsted closes 50% stake sale of 900 MW Borkum Riffgrund 3 to Glennmont Partners

Ørsted has completed the 50% divestment of the 900 MW German offshore wind farm Borkum Riffgrund 3 to funds managed by Glennmont Partners.

The project has closed recently the final investment decision (FID) planned for commercial operation in 2025. The wind farm will consist of SG 11.0-200 DD offshore wind turbines supplied by Siemens Gamesa. 

The deal is estimated to value about DKK9 billion (US$1.41 billion) and includes the purchase price and a commitment to fund 50% of the payments under the project’s engineering, procurement and construction (EPC) contract.