Ørsted has selected Cathay Life Insurance as preferred bidder for 50 % ownership share in Greater Changhua 4
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Ørsted A/S (Orsted)
17.10.2023 11:30:10 CEST | Ørsted A/S | Investor News Following a competitive divestment process, Ørsted has signed an exclusivity agreement with Cathay Life Insurance today, selecting the Taiwanese leading insurance company and its affiliate as preferred bidder for the acquisition of a 50 % ownership stake in total of Ørsted’s 583 MW Greater Changhua 4 Offshore Wind Farm in Taiwan. Ørsted and Cathay Life Insurance have agreed to an exclusivity period lasting until 17 January 2024, during which both parties will finalise negotiations of the transaction documents and confirmatory due diligence. Under the Taiwan Stock Exchange disclosure rules, Cathay Life Insurance is required to make a public announcement upon being selected as preferred bidder. Subject to signing of the transaction, the completion of the divestment will be subject to regulatory approvals from the Taiwanese authorities. In total, Greater Changhua 2b and 4 will have a capacity of 920 MW, and Ørsted took final investment decision (FID) on these projects earlier this year. The wind farms are under construction and expected to be completed by the end of 2025. For further information, please contact: Media Relations Investor Relations About Ørsted in Taiwan Operational project Formosa 1
Construction projects Greater Changhua 1 and 2a
Greater Changhua 2b and 4
Development projects
As the world leader in offshore wind, Ørsted has installed more than 1,900 offshore wind turbines at sea. By the middle of 2023, Ørsted had 8.9 GW of capacity installed, 3.1 GW of capacity under construction, and a further 10.4 GW of capacity awarded, resulting in a firm capacity of 22.4 GW. This aligns with the company’s ambition of reaching 50 GW installed renewable energy capacity by the end of 2030. About Ørsted The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Ørsted is recognised on the CDP Climate Change A List as a global leader on climate action and was the first energy company in the world to have its science-based net-zero emissions target validated by the Science Based Targets initiative (SBTi). Headquartered in Denmark, Ørsted employs approx. 8,000 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2022, the group's revenue was DKK 132.3 billion (EUR 17.8 billion). Visit orsted.com or follow us on Facebook, LinkedIn, Instagram and Twitter. AttachmentsNews Source: Ritzau Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | DK0060094928 |
| Category Code: | MSCM |
| TIDM: | Orsted |
| Sequence No.: | 278673 |
| EQS News ID: | 1750831 |
| End of Announcement | EQS News Service |
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