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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Orsted A/S    ORSTED   DK0060094928

ORSTED A/S

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Glennmont to take 25% stake in German offshore wind project 

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07/01/2019 | 05:08am EDT

LONDON (Reuters) - Fund manager Glennmont Partners will take a 25% stake in the Gode Wind 1 project off the coast of Germany, it said on Monday, marking its first investment in offshore wind.

London-based Glennmont has 2 billion euros (1.79 billion pounds) of assets under management and already invests in renewable projects such as onshore wind and solar across Europe.

Glennmont’s Clean Energy Fund III will purchase the stake in Gode Wind 1 from current 50% owner Global Infrastructure Partners II, a fund managed by Global Infrastructure Partners (GIP).

The deal is expected to close in the third quarter of this year. No financial details were revealed.

The 350 megawatt wind farm has been operational since 2017 and secured a feed-in-tariff subsidy from the German government until late 2027.

Danish wind project developer Orsted holds the remaining 50% stake, while GIP is poised to sell its remaining 25% stake in Gode Wind 1 to The Renewables Infrastructure Group Limited, a British investment trust.

(Reporting by Susanna Twidale; Editing by Susan Fenton)

Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED 0.74% 1.355 End-of-day quote.-29.24%
FIRST SOLAR, INC. 0.09% 65.1001 Delayed Quote.16.82%
JUST GROUP PLC -2.41% 43.0568 Delayed Quote.-44.15%
ORSTED A/S 0.68% 887.6 Delayed Quote.27.95%
THE GLOBAL LTD. 0.45% 222 End-of-day quote.-52.87%
WILL GROUP, INC. -1.05% 847 End-of-day quote.-32.35%
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Financials
Sales 2020 62 242 M 9 779 M 9 779 M
Net income 2020 10 869 M 1 708 M 1 708 M
Net Debt 2020 26 086 M 4 098 M 4 098 M
P/E ratio 2020 34,0x
Yield 2020 1,29%
Capitalization 370 B 57 952 M 58 159 M
EV / Sales 2020 6,37x
EV / Sales 2021 6,54x
Nbr of Employees 6 731
Free-Float 44,8%
Chart ORSTED A/S
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Technical analysis trends ORSTED A/S
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 22
Average target price 851,89 DKK
Last Close Price 881,60 DKK
Spread / Highest target 24,8%
Spread / Average Target -3,37%
Spread / Lowest Target -45,0%
EPS Revisions
Managers
NameTitle
Henrik Poulsen Chief Executive Officer
Thomas Thune Andersen Chairman
Marianne Wiinholt Chief Financial Officer
Benny Gøbel Non-Independent Director
Lene Skole-Sørensen Deputy Chairman
Sector and Competitors
1st jan.Capitalization (M$)
ORSTED A/S27.95%57 952
NATIONAL GRID PLC-9.84%38 521
SEMPRA ENERGY-22.95%33 759
ENGIE-20.76%32 091
ELECTRICITÉ DE FRANCE-11.34%31 789
E.ON SE-1.39%28 541