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Denmark’s Ørsted buys remaining stake in US wind power project

Denmark: Ørsted declared it had agreed to acquire Public Service Enterprise Group’s (PSEG) <PEG.N> 25% stake in the 1,100 megawatt wind power project Ocean Wind 1 off the cost of New Jersey, which will raise its stake to 100%.

Ørsted said in the statement that the first power production from Ocean Wind 1 is due for the end of the next year, while the full commission should be completed in 2025. The company representatives did not reveal how much the company has paid for the stake.

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