2 minute read | November.03.2026
Ørsted acquired the remaining 49.9% stake in the operational 172 MW Gunfleet Sands 1 & 2 Offshore Wind Farm. It acquired the ownership interest from its investment partners for a total consideration of approximately £15 million, exercising a long-standing buyback right under the original partnership arrangements. Ørsted previously held a 50.1% interest.
Orrick advised Ørsted on the transaction.
Ørsted is a global leader in developing, constructing and operating offshore wind farms, with a core focus on Europe. Backed by 35 years of experience in offshore wind, Ørsted currently has 11 GW of installed offshore capacity and 7.2 GW under construction.
Gunfleet Sands 1 & 2 sits 7 km off the UK’s Essex coast. Operational since 2010, it generates enough renewable electricity to power over 125,000 UK homes annually.
Full ownership allows Ørsted to capture the full potential of the asset with greater flexibility to manage the wind farm and assess late-life options, including a potential lifetime extension.
The transaction supports Ørsted’s focus on maximising the performance and long-term value of its operating assets. Ørsted will continue to assess any similar rights and opportunities on a case-by-case basis.
The deal follows Orrick's recent work advising Ørsted on the optimisation arrangements for its Iceni BESS project, co-located with the 2.9 GW Hornsea 3 offshore wind farm. Orrick previously advised Ørsted on a 24.5% stake divestment in the West of Duddon Sands offshore wind farm at a deal value of £456.1 million on a debt-free basis.
The cross-border, multi-disciplinary Orrick team is led by Ravinder Sandhu, and includes Rebecca Grevitt and Milo Dunne. Albert Yu, Victoria Newbold, Neetu Ahlawat, Jonathan Rosen and Felicity Blackburn provided further support.