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    ORSTED   DK0060094928

ORSTED A/S

(ORSTED)
  Report
Delayed Quote. Delayed Nasdaq Copenhagen - 12/03 10:59:56 am
792.6 DKK   -2.92%
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Orsted A/S : sells 50% of its German offshore wind farm Borkum Riffgrund 3

10/19/2021 | 02:06pm EST

(Reuters) - Danish renewables firm Orsted A/S said on Tuesday it had signed an agreement to sell 50% of its 900-megawatt (MW) German offshore wind farm Borkum Riffgrund 3 to fund manager Glennmont Partners.

Orsted said the around 9 billion Danish crown ($1.41 billion) price of the transaction includes the acquisition of a 50% ownership share and a commitment to fund 50% of the payments under the engineering, procurement and construction (EPC) contract for the entire wind farm.

Borkum Riffgrund 3 will be located in the German North Sea and is expected to be commissioned in 2025, according to the company.

Under the terms of the deal, Orsted said it will construct the wind farm under a full-scope EPC contract and provide operations and maintenance services along with a route to market for power generated by the development.

($1 = 6.3933 Danish crowns)

(Reporting by Aishwarya Nair in Bengaluru; Editing by Jan Harvey)


ę Reuters 2021
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Analyst Recommendations on ORSTED A/S
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Financials
Sales 2021 57 023 M 8 683 M 8 683 M
Net income 2021 11 528 M 1 755 M 1 755 M
Net Debt 2021 22 471 M 3 422 M 3 422 M
P/E ratio 2021 29,3x
Yield 2021 1,56%
Capitalization 333 B 50 592 M 50 709 M
EV / Sales 2021 6,23x
EV / Sales 2022 6,18x
Nbr of Employees 6 672
Free-Float 44,8%
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Mean consensus HOLD
Number of Analysts 25
Last Close Price 792,60 DKK
Average target price 978,43 DKK
Spread / Average Target 23,4%
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Managers and Directors
Mads Nipper Group President & Chief Executive Officer
Marianne Wiinholt Chief Financial Officer
Thomas Thune Andersen Chairman
Richard Hunter Chief Operating Officer
Lene Skole-S°rensen Deputy Chairman
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