Ørsted has divested a 50% stake in the Gode Wind 3 offshore Wind Farm, valued at EUR 473 million to Glennmont Partners

Project Highlights: Gode Wind 3 has a capacity of 253 MW and is expected to start commercial operations in 2024. Ørsted acquired this asset in 2017 and 2018, securing an average feed-in tariff of EUR 81 per MWh.

Deal Metrics: This deal has a notable deal value($ million)/MW multiple of 3.9, which is the highest in the German offshore wind sector over the past 12 months.

Comparable Metrics: In a similar transaction earlier in 2023, Masdar acquired a 49% stake in the Baltic Eagle offshore wind farm for $862 million, at a similar multiple of 3.7.

Deal Trends: Private equity firms have been the primary buyers in major German offshore wind deals recently.