Orsted to Sell Majority Stake in Taiwanese Wind Farm to Cathay

Orsted A/S agreed to sell a majority stake in a Taiwanese wind farm to local firm Cathay as it presses ahead with plans to repair its balance sheet.

Cathay Life Insurance and affiliate Cathay Power will buy a 55% interest in the Greater Changhua 2 offshore wind farm for about 5 billion Danish kroner ($789 million), according to a statement on Tuesday. The deal brings Orsted’s total divestments this year to 33 billion kroner.