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Orsted sells 50% stake in Greater Changhua 4 wind farm for $1.64 billion

Published by Global Banking & Finance Review

Posted on December 11, 2024

1 min read

· Last updated: January 27, 2026

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Orsted offshore wind farm in Greater Changhua, reflecting the $1.64 billion stake sale - Global Banking & Finance Review
The image depicts the Greater Changhua 4 offshore wind farm, illustrating Orsted's recent $1.64 billion stake sale to Cathay Life Insurance, highlighting significant developments in renewable energy finance.
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Orsted's $1.64 Billion Sale of Wind Farm Stake to Cathay Life

COPENHAGEN (Reuters) - Denmark's Orsted said on Wednesday it has agreed to sell a 50% stake in its Greater Changhua 4 offshore wind farm to Taiwan's Cathay Life Insurance for about 11.6 billion Danish crowns ($1.64 billion).

The Greater Changhua 4 site is part of Orsted's 920 megawatt (MW) offshore wind farms Greater Changhua 2b and 4, which the company is currently constructing and expects to finalise by the end of 2025.

Orsted will continue to own the remaining 50% ownership stake in the wind farm, Orsted said.

The transaction amount will be paid in 2024 and 2025, it added.

($1 = 7.0847 Danish crowns)

(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)

Key Takeaways

  • Orsted sells 50% stake in Greater Changhua 4 wind farm.
  • Cathay Life Insurance buys the stake for $1.64 billion.
  • The wind farm is part of a 920 MW project.
  • Orsted retains 50% ownership of the wind farm.
  • Transaction payments are scheduled for 2024 and 2025.

Frequently Asked Questions

What is the main topic?
The article discusses Orsted's sale of a 50% stake in its Greater Changhua 4 wind farm to Cathay Life Insurance for $1.64 billion.
Who bought the stake in the wind farm?
Cathay Life Insurance purchased the 50% stake from Orsted.
When will the transaction payments be made?
The payments for the transaction will be made in 2024 and 2025.

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