Ørsted enters onshore wind market in US$580m acquisition
09 August, 2018
Ørsted has agreed to acquire US renewables developer Lincoln Clean Energy for about US$580m (£451m).
The acquisition signals a move into the onshore wind sector for the first time for the Danish wind specialists.
Lincoln Clean Energy, headquartered in Chicago, has operational wind farms totalling 513MW in capacity, a further 300MW under construction and a pipeline of more than 1.5GW to be completed by 2022.
The transaction is expected to close by the end of 2018, subject to approval by the US competition authorities.
Lincoln’s existing management team will continue to run the firm, which will be a separate unit outside of Ørsted’s wind power business.