Bulletin: Orsted Ratings Unaffected By Announced Acquisition Of U.S. Onshore Wind Developer Lincoln Clean Energy

PARIS (S&P Global Ratings) Aug. 9, 2018--S&P Global Ratings said today that its ratings and outlook on Orsted A/S (BBB+/Stable/A-2) are unaffected by Ørsted's announced acquisition of U.S. wind developer Lincoln Clean Energy (LCE) for $580 million. We see the acquisition as a step in Ørsted's current plan to transition from an integrated utility to an almost pure renewable energy player, and note that it follows the company's announcement in June 2018 that it intends to divest its regulated electricity networks in Denmark (see "Orsted Ratings Unaffected By Planned Sale Of Danish Power Distribution Assets And Residential Customer Business," June 26, 2018, on RatingsDirect). Ørsted is a global player in offshore wind, with a presence also in the U.S. and

...PARIS (S&P Global Ratings) Aug. 9, 2018--S&P Global Ratings said today that its ratings and outlook on Orsted A/S (###+/Stable/A-2) are unaffected by +rsted's announced acquisition of U.S. wind developer Lincoln Clean Energy (LCE) for $580 million. We see the acquisition as a step in +rsted's current plan to transition from an integrated utility to an almost pure renewable energy player, and note that it follows the company's announcement in June 2018 that it intends to divest its regulated electricity networks in Denmark (see "Orsted Ratings Unaffected By Planned Sale Of Danish Power Distribution Assets And Residential Customer Business," June 26, 2018, on RatingsDirect). +rsted is a global player in offshore wind, with a presence also in the U.S. and Taiwan. With the LCE acquisition, +rsted is re-entering the onshore wind market, which it exited in 2014. We expect the LCE acquisition will be finalized before year-end 2018, and we note that this transaction will add to +rsted's portfolio...

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