Ørsted buys Lincoln Clean Energy
Yesterday, Ørsted finalized their purchase of 100 % of available stocks in Lincoln Clean Energy LLC (LCE) from I Squared Capital. Ørsted will form en new business department, Onshore Wind, which will be a separate segment. LCE will be the only activity n the beginning stages of Onshore Wind.
At the same time, the company will change and shorten the names of their existing business departments to Offshore Wind (previously Wind Power), Bioenergy (previously Bioenergy & Thermal Power) and Customer Solutions (previously Distribution & Customer Solutions), respectively.
Ole Kjems Sørensen, Executive Vice President and member of Ørsteds concern group, has been announced as manager of Onshore Wind. On top of this, he will be in charge of Ørsteds Corporate Development and M&A-activities.
This information will not impact Ørsteds expectations to the financial outcome of 2018 or the expected investment level of 2018.
Source: Ørsted / Maritime Danmark