Ørsted has completed the acquisition of a 100% equity interest in Lincoln Clean Energy from I Squared Capital.
Image: Orsted closes acquisition of Lincoln Clean Energy. Photo courtesy of PinkBlue/FreeDigitalPhotos.net.
Ørsted will create a new business unit, Onshore Wind, which will be reported as a separate segment. From the outset, LCE will be the only activity in Onshore Wind.
At the same time, the company is changing names of its existing business units to Offshore Wind (formerly Wind Power), Bioenergy (formerly Bioenergy & Thermal Power) and Customer Solutions (formerly Distribution & Customer Solutions).
Ole Kjems Sørensen, Executive Vice President and member of Ørsted’s Executive Committee, has been appointed to lead Onshore Wind. In addition, he will continue to lead Ørsted’s Corporate Development and M&A activities.
The company said that the information provided in this announcement does not change Ørsted’s guidance for the financial year 2018 or the announced expected investment level for 2018.
Source: Company Press Release