Ørsted changes strategy

Opposite previous announcements, the utility now banks on securing early funds from farming down its European offshore wind farms.

by MAZ PLECHINGER

Danish utility Ørsted used to be a front-runner of the now widespread model of farmdowns, by which half a project is sold to a pension fund, for instance, in order to reduce a developer's risk and release capital for further business endeavors. But two and a half years ago, the company announced it would discontinue use of this model going forward, at least on mature European markets.

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