Ørsted Officially Back on Land

Ørsted has completed the acquisition of a 100% equity interest in Lincoln Clean Energy LLC (LCE) from I Squared Capital.

With the acquisition of the US-based developer, owner and operator of onshore wind farms, Ørsted will create the Onshore Wind business unit, which will be reported as a separate segment and with LCE initially the only activity.

The Danish company is changing the name of its existing Wind Power unit to Offshore Wind, in addition to renaming Bioenergy & Thermal Power to Bioenergy and Distribution & Customer Solutions to Customer Solutions.

Ole Kjems Sørensen, Executive Vice President and member of Ørsted’s Executive Committee, will lead the new unit, as well as continue managing Corporate Development and M&A activities.

To remind, Ørsted announced in August that it had entered into an agreement to acquire LCE with an enterprise valuation amounting to USD 580 million.

LCE’s portfolio includes 513MW of commissioned projects, 300MW under construction and more than 1.5GW to be completed by 2022.

Share this article

Follow Offshore Wind

Events>

<< Dec 2018 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Energy Storage 2019

The conference will bring together senior representatives from European energy suppliers, developers…

read more >

5th Asia Offshore Wind Day 2019

The event will bring together senior executives active in the offshore wind industry in Asia…

read more >

11th Annual Wind Operations Dallas 2019 Conference & Exhibition

Wind Operations Dallas (O&M, Asset Management, Storage) will draw together 100 professional speakers…

read more >

Jobs>

O&M Lead Contract Manager

Here at Scottish Power Renewables we’re committed to remaining a UK leader in renewable energy. As well as investing in our technologies, we are committed to investing in the future of extraordinary people like you...

apply

Senior Contract Manager

Here at Scottish Power Renewables we’re committed to remaining a UK leader in renewable energy. As well as investing in our technologies, we are committed to investing in the future of extraordinary people like you...

apply

Senior Operations & Maintenance Engineer

The Senior O&M Engineer (Structural) sits within the Asset Integrity Management Department team of Offshore O&M, reporting to a Lead O&M Engineer...

apply

Vessels>