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Orsted ( (DOGEF) ) has shared an update.
Ørsted has announced the divestment of a 50% equity stake in three US solar and battery storage projects to Energy Capital Partners for USD 572 million, as part of its ongoing divestment program. The projects, located in Texas and Arizona, are expected to commence operations in 2024, with tax equity partnerships and power purchase agreements already in place. This transaction is significant for Ørsted as it contributes to their financial goals by generating proceeds that support their mid- and long-term targets. Additionally, it strengthens their partnership with ECP, enhancing their position in the US renewable energy market and enabling further investments in clean energy projects.
More about Orsted
Ørsted is a Danish energy company specializing in the development, construction, and operation of offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen, and green fuels facilities, as well as bioenergy plants. The company aims to promote a world powered entirely by green energy and is recognized as a leader in climate action. Ørsted’s shares are listed on Nasdaq Copenhagen, and in 2023, the company reported a revenue of DKK 79.3 billion (EUR 10.6 billion).
YTD Price Performance: -13.79%
Average Trading Volume: 815
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $20.16B
Find detailed analytics on DOGEF stock on TipRanks’ Stock Analysis page.
