Orsted for first time divests part of Asian offshore wind project

Offshore wind champion Orsted for the first time is selling off part of an offshore wind development in Asia, by divesting 50% of its 605MW Greater Changhua 1 project to Canada’s Caisse de dépôt et placement du Québec (CDPQ) and Taiwanese private equity fund Cathay PE.

The Greater Changhua 1 site is part of the 900MW Greater Changhua 1 & 2a offshore project, which Orsted is currently constructing and expects to complete in 2022.

The total value of the transaction is about 75bn Taiwanese new dollars ($2.67bn),