Ørsted to Acquire Full Ownership of UK Offshore Wind Farm for £15 Million
Danish energy company Ørsted A/S (OMXCOP:ORSTED) has exercised a long-standing buyback right to acquire the remaining 49.9% interest in the Gunfleet Sands 1 and 2 Offshore Wind Farm for roughly £15 million. Ørsted already holds a 50.1% controlling interest in the asset, and the transaction will give it total ownership of the 172-megawatt facility off the Essex coast in the United Kingdom.
Taking complete ownership gives the business full operational control over the wind farm, which went into service in 2010 and generates enough electricity to power more than 125,000 British homes each year. Controlling the entire asset provides greater flexibility in managing day-to-day operations and evaluating late-life options, including a possible extension of its operational lifespan.
The acquisition is scheduled to close in November 2026, subject to customary closing conditions. Ørsted currently operates 12 offshore wind facilities in the UK that generate about 7% of the nation's electricity supply, and indicated it will evaluate similar buyback opportunities on a case-by-case basis.
Key points
- Ørsted is acquiring the remaining 49.9% stake in Gunfleet Sands 1 and 2 from its partners for about £15 million.
- The 172 MW offshore asset, located 7 km off the Essex coast, powers over 125,000 UK homes annually.
- The transaction is expected to close in November 2026, pending standard closing conditions.
- Sole ownership gives Ørsted greater flexibility to manage the site and evaluate potential lifetime extensions.
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How we writeDisclaimerQuestions and answers
How much is Ørsted paying for full ownership of Gunfleet Sands?
Ørsted is paying approximately £15 million to purchase the remaining 49.9% stake from its investment partners.
When is the Gunfleet Sands acquisition expected to close?
The transaction is expected to close in November 2026, subject to customary closing conditions.
Where is the Gunfleet Sands offshore wind farm located?
The 172 MW wind farm is located 7 kilometers off the Essex coast in the United Kingdom.