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),