Danish energy major Ørsted is considering a divestment of its onshore renewable energy assets in the United States, Bloomberg News reports, citing sources familiar with the matter.

The portfolio, which includes onshore wind, solar power, and battery storage, could be valued at over $1 billion, according to the report.

The potential sale aligns with Ørsted's strategy to refocus on offshore wind in Europe following several costly setbacks in the US market. Earlier this year, the company also divested portions of its European onshore operations for 1.4 billion euros.