Ørsted to take full ownership of Gunfleet Sands 1 & 2 offshore wind farm

Ørsted has exercised a long-standing buyback right in relation to the Gunfleet Sands 1 & 2 offshore wind farm, in which Ørsted currently holds a 50.1 % ownership interest. Under the agreement, Ørsted will acquire the remaining 49.9 % ownership interest from its investment partners for a total consideration of approximately £ 15 million.

On completion of the transaction, which is subject to customary closing condi-tions and expected to close in November, Ørsted will take full ownership of the 172 MW asset located 7 km off the Essex coast in the UK. This will enable Ørsted to capture the full potential of the asset and provide greater flexibility in managing Gunfleet Sands 1 & 2 offshore wind farm and assessing future late-life options, including a potential lifetime extension.

Richard Bodal Hansen, Ørsted’s UK Country Manager, said: “Gunfleet Sands 1 & 2 has been part of the UK’s renewable energy story since 2010, and we’re proud of the contribution it continues to make. Taking full ownership gives us greater flexibility to shape the site’s future and build on the value of an asset we know well.”

Gunfleet Sands 1 & 2 has been operational since 2010 and continues to generate enough renewable electricity to power over 125 000 UK homes annually. The transaction builds on Ørsted’s extensive experience as a leading offshore wind generator in the UK, where its operational fleet of 12 offshore wind farms supplies approximately 7 % of the country’s electricity.

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global’s Autumn 2026 issue

The Autumn issue of 2026 is available now! The new issue begins with a regional report on Asia Pacific, looking at the region’s transition from building capacity to building systems. The issue also explores topics such as offshore wind foundations, solar maintenance, training the new workforce, inspection & maintenance, and more! With insights from experts such as Everllence, BW Ideol, EM&I, Watson Farley & Williams, and many more, make sure to check out this issue now.