By Dominic Chopping

Danish renewable-energy company Orsted AS said Monday that it has agreed to sell a 50% stake in its Hornsea 2 offshore wind farm in the U.K. to a French consortium for 3 billion pounds ($3.95 billion).

The consortium comprises AXA IM Alts and Credit Agricole Assurances, who will each own a 25% stake in the project.

Orsted said Hornsea 2 is currently under construction and will become the world's largest offshore wind farm once commissioned later in 2022. With a capacity of 1.3 gigawatts, it will provide enough green electricity to power the equivalent of more than 1.3 million homes annually.

The transaction is expected to close in the second half of 2022, once the wind farm is fully commissioned and customary regulatory approvals are obtained.

Orsted said the deal doesn't change its financial guidance for 2022.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

March 28, 2022 07:21 ET (11:21 GMT)

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