on Ãrsted A/S (isin : DK0060094928)
Ørsted Partners with Cathay for Greater Changhua 2 Wind Farm in Taiwan
Ørsted has entered into an agreement with Cathay Life Insurance and Cathay Power, allowing Cathay to acquire a 55% stake in Ørsted's Greater Changhua 2 Offshore Wind Farm in Taiwan. The site, located 50-60km off Changhua County's coast, has part operational (295 MW) and part under construction (337 MW) with a completion target in Q3 2026.
The 55% equity stake transaction is valued at approximately DKK5 billion, incorporating existing project financing. The deal's completion coincides with the project's anticipated operational start in Q3 2026. Ørsted had secured DKK20 billion in project financing by July 2025, reflecting its strategic focus on capital structure enhancement.
This venture marks a significant milestone in Ørsted's partnership and divestment program, nearing its 2025-2026 target of DKK35 billion in proceeds. Ørsted highlights investor interest in renewable projects, accentuated by their established partnership with Cathay in other wind developments.
R. P.
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