Danish energy company Ørsted A/S is considering a bid for several U.S. offshore-wind projects and already has the required funding in place, the company’s finance chief said. Massachusetts, New York and New Jersey each plan to select a bidder for offshore-wind projects in the coming quarters. Reducing the holding, a tactic known as a “farm down,” is one way it could build cash reserves, Ms. Wiinholt said. The company also plans to sell its Danish power grid and its consumer business, Ms. Wiinholt said. “It is a huge investment,” said Ms. Wiinholt, who declined to provide specifics.

Source: Wall Street Journal August 31, 2018 18:00 UTC