Bulletin: Orsted Ratings Can Accommodate The Acquisition Of U.S. Offshore Deepwater Wind

PARIS (S&P Global Ratings) Oct. 9, 2018--S&P Global Ratings said today that it sees Ørsted A/S's announced acquisition of U.S. offshore wind developer Deepwater Wind for an enterprise value of $700 million as an additional step in Ørsted's current plan to transition from an integrated utility to an almost pure renewable energy player. The planned acquisition does not currently affect our ratings or outlook on Ørsted (BBB+/Stable/A-2). Ørsted is a global player in offshore wind, with a presence also in the U.S. and Taiwan. The company announced in June 2018 that it intended to divest its regulated electricity networks in Denmark (see "Ørsted Ratings Unaffected By Planned Sale Of Danish Power Distribution Assets And Residential Customer Business," published June 26,

...PARIS (S&P Global Ratings) Oct. 9, 2018--S&P Global Ratings said today that it sees +rsted A/S's announced acquisition of U.S. offshore wind developer Deepwater Wind for an enterprise value of $700 million as an additional step in +rsted's current plan to transition from an integrated utility to an almost pure renewable energy player. The planned acquisition does not currently affect our ratings or outlook on +rsted (###+/Stable/A-2). +rsted is a global player in offshore wind, with a presence also in the U.S. and Taiwan. The company announced in June 2018 that it intended to divest its regulated electricity networks in Denmark (see "+rsted Ratings Unaffected By Planned Sale Of Danish Power Distribution Assets And Residential Customer Business," published June 26, 2018, on RatingsDirect), and on Oct. 1, 2018 finalized the acquisition of U.S. wind developer Lincoln Clean Energy (LCE) for $580 million (see "+rsted Ratings Unaffected By Announced Acquisition Of U.S. Onshore Wind Developer...

Bulletin