A 50% stake in a huge offshore wind farm being built off the Yorkshire coast has been sold for £3bn to a pair of French investors.
The investment arm of Axa and Crédit Agricole have bought half of the Hornsea Two project from Danish company Orsted, the world’s biggest offshore wind farm developer.
Analysts at Bernstein said the price paid by Axa and Crédit Agricole valued Hornsea Two at about a third more than they thought it was worth. They added that it “demonstrates the value external investors are ready to place on such assets” as the world embarks on a shift in how power is generated.
Hornsea Two, which lies about 50 miles off of the Yorkshire coast in the North Sea, spans 160 square miles.
