Ørsted completes acquisition of Lincoln Clean Energy

Source: press release, 1 October 2018

Ole Kjems Sørensen, Executive Vice President and member of Ørsted’s Executive Committee, has been appointed to lead Onshore Wind
Ole Kjems Sørensen, Executive Vice President and member of Ørsted’s Executive Committee, has been appointed to lead Onshore Wind (photo: Ørsted)

Ørsted’s acquisition of a 100% equity interest in Lincoln Clean Energy LLC (LCE) from I Squared Capital has been completed.

Ørsted will create a new business unit, Onshore Wind, which will be reported as a separate segment. From the outset, LCE will be the only activity in Onshore Wind.

At the same time, Ørsted will change the names of its existing business units to Offshore Wind (formerly Wind Power), Bioenergy (formerly Bioenergy & Thermal Power) and Customer Solutions (formerly Distribution & Customer Solutions).

Ole Kjems Sørensen, Executive Vice President and member of Ørsted’s Executive Committee, has been appointed to lead Onshore Wind. In addition, he will continue to lead Ørsted’s Corporate Development and M&A activities.

The information provided in this announcement does not change Ørsted’s guidance for the financial year 2018 or the announced expected investment level for 2018.