Orsted has confirmed that ENGIE is set to acquire Orsted’s onshore wind and solar business in France. The deal to acquire OSTWIND International, OSTWIND Engineering, and their subsidiaries is expected to close in Q2 of 2024. Orsted did not reveal financial details.
This follows Orsted’s revision in its strategy to build its projects with an emphasis on realizing the most value for Orsted. With the divestment of Ostwind France, Orsted will have no remaining activities in France.
“Building on this plan, we’ve decided to concentrate our efforts on the UK, Irish, German, and Spanish markets for onshore wind and solar, in Europe,” Kieran White, Senior Vice President and Head of Onshore in Region Europe at Orsted, said.
Orsted has been developing renewable projects in France for more than 20 years. Orsted has 54 MW in operation and a further 24 MW of wind projects under construction. Ostwind France is continuing to advance a wider pipeline of projects.
Orsted acquired Ostwind France in 2022 as part of the acquisition of the French and German onshore platform from Ostwind AG. The German part of the Ostwind transaction has been integrated fully into Orsted and will remain a focus of Orsted’s European onshore wind and solar investments.
Orsted’s German onshore wind business has advanced a number of projects towards final investment decision and continues to develop an attractive pipeline of onshore wind and solar PV projects.