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    ORSTED   DK0060094928

ORSTED A/S

(ORSTED)
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Orsted A/S : makes $631 mln onshore wind acquisition in Ireland

04/16/2021 | 03:29am EDT
FILE PHOTO: General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool

COPENHAGEN, April 16 (Reuters) - Renewable energy group Orsted has agreed to buy Brookfield Renewable's Ireland and UK onshore wind business, its first step into Europe's onshore wind market, in a deal valued at 571 million euros ($683 million).

Brookfield Renewable Ireland (BRI), headquartered in Cork, develops and operates onshore wind farms in Ireland and the United Kingdom. It has 389 megawatts in operation and under construction, with a project pipeline of more than 1 gigawatt.

"With the acquisition of BRI, we get a strong platform that expands our presence in onshore renewables to Europe, allowing us to continue our successful expansion of our onshore renewables business," Chief Executive Mads Nipper said in a statement.

The transaction, the final price of which is subject to adjustment, is expected to close in the second quarter of this year.

Orsted, the world's largest developer of offshore wind farms, only entered the onshore wind market in 2018, mainly in the United States, where it operates 1 gigawatt worth of wind assets.

BRI, which has 73 employees, will continue to run its business with its own management team as it becomes a part of Orsted's Onshore division.

($1 = 0.8358 euros) (Reporting by Nikolaj Skydsgaard Editing by David Goodman and David Holmes)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ORSTED A/S 4.28% 892.4 Delayed Quote.-28.23%
RENEWABLE ENERGY GROUP, INC. 1.90% 60.54 Delayed Quote.-14.52%
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More news
Financials
Sales 2021 57 986 M 9 488 M 9 488 M
Net income 2021 11 843 M 1 938 M 1 938 M
Net Debt 2021 22 721 M 3 718 M 3 718 M
P/E ratio 2021 31,1x
Yield 2021 1,39%
Capitalization 375 B 61 245 M 61 340 M
EV / Sales 2021 6,86x
EV / Sales 2022 6,87x
Nbr of Employees 6 311
Free-Float 44,8%
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Technical analysis trends ORSTED A/S
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Average target price 1 066,83 DKK
Last Close Price 892,40 DKK
Spread / Highest target 90,5%
Spread / Average Target 19,5%
Spread / Lowest Target -38,4%
EPS Revisions
Managers and Directors
NameTitle
Mads Nipper Group President & Chief Executive Officer
Marianne Wiinholt Chief Financial Officer
Thomas Thune Andersen Chairman
Lene Skole-Sørensen Deputy Chairman
Lynda Anne Armstrong Independent Director
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