Orsted has announced plans to sell its power distribution and retail sales business in Denmark.
The company, which is the world’s largest offshore wind developer, says that it has completed a strategic review of its business and concluded that the Danish power distribution and retail customer businesses do not support its long-term strategy.
“With continued significant investments in green energy in the coming years, the strategic and financial importance of the Danish power distribution and residential customer businesses will be further reduced in the coming years, compared to Ørsted’s rapidly growing international business in green energy,” the firm said in a statement.
The company would therefore initiate a structured process “to assess the market interest in acquiring” the business units, it added.
Orsted’s power distribution business, under the subsidiary Radius, has approximately one million electricity customers in the Copenhagen area, North Zealand and parts of central Zealand. The grid has an approximate size of 19 000 km.
The residential business sells electricity to approximately 733 000 customers and gas to approximately 91 000 customers.