Ørsted A/S – Annual report – 31 December 2023
Industry: manufacturing
Non-controlling interests
Note 3.11
In the table, we provide financial information for subsidiaries with significant non-controlling interests. The amounts stated are the consolidated accounting figures of the individual enterprises or groups, determined according to our accounting policies. Amounts are stated before intra-group eliminations.
1 Entities are fully consolidated.
In 2023, we acquired the remaining 25 % equity stake in Ocean Wind JV HoldCo LLC. The acquisition provided Ørsted with 100 % ownership of Ocean Wind JV HoldCo LLC. Hence, financial information is only provided for 2022.
In 2023, we also acquired the remaining 50 % equity stakes in Bay State Wind LLC and BSW Projectco LLC (Lease Area 500), respectively. Subsidiaries with immaterial non-controlling interests.
§ Accounting policies
Transactions with non-controlling interests are accounted for as transactions with the shareholder base.
Gains and losses on the divestment of equity investments to non-controlling interests are recognised in equity when the divestment does not result in a loss of control.
Net assets acquired are not revalued on the acquisition of non-controlling interests. Any difference between the carrying amount and the acquisition or selling price is recognised in equity.
Accounts examples 