LCE is a wind-farm developer that has built over 500 MW of operating capacity since 2015.
Ørsted has completed its acquisition of a 100% equity interest in Lincoln Clean Energy LLC (LCE) from I Squared Capital. Ørsted says it will create a new business unit, Onshore Wind, which will be reported as a separate segment. LCE will be the only activity in onshore wind the outset.
In addition, Ørsted is changing the names of our existing business units to Offshore Wind (formerly Wind Power), Bioenergy (formerly Bioenergy & Thermal Power), and Customer Solutions (formerly Distribution & Customer Solutions).
Ole Kjems Sørensen, Executive Vice President and member of Ørsted’s Executive Committee, has been appointed to lead Onshore Wind. Sørensen will also continue to lead Ørsted’s Corporate Development and M&A activities.
The information provided in this announcement does not change Ørsted’s guidance for the financial year 2018 or the announced expected investment level for 2018.
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