Ørsted acquiring Lincoln Clean Energy for $580m

Ørsted to invest £23bn in green energy
Courtesy of Ørsted

Danish energy giant Ørsted is acquiring US-based wind farm developer, owner and operator Lincoln Clean Energy (LCE) for $580 million.

Since I Squared Capital acquired a 90% stake in LCE in 2015, with the management team owning the remaining 10%, the company has developed and built over 500 MW of operating capacity, is constructing another 300 MW onshore wind project, and has a pipeline of more than 1.5 GW expected to be completed by 2022.

LCE’s existing management team will continue to run the business, which will be a separate unit outside of Ørsted’s Wind Power business.

The transaction is expected to close prior to the end of 2018.