Ørsted has today completed the divestment of 50% of the ownership of the Greater Changhua 4 Offshore Wind Farm (583 MW) to Cathay Life Insurance.

The Greater Changhua 4 site is part of Ørsted's 920 MW offshore wind farms Greater Changhua 2b and 4, which the Company are currently constructing and expect to finalise by the end of 2025.

The total sales price for the Greater Changhua 4 Offshore Wind Farm in Taiwan comprises the acquisition of a 50% ownership share and the commitment from the partners to fund 50 % of the payments under the EPC contract for the wind farm. The total value of the transaction is approximately DKK 11.6 billion, which is to be paid in 2024 and 2025. All regulatory approvals have been obtained, and the closing of the transaction is expected before the end of the year.

KeyFacts Energy: Ørsted Taiwan country profile