Ørsted has signed a transaction divesting its fairness possession stake in a portfolio of 4 U.S. onshore wind farms with a complete 957 MW capability to Stonepeak.
The portfolio consists of the Ford Ridge Wind venture in Illinois, the Helena Wind and Western Path Wind tasks in Texas and the Sunflower Wind venture in Kansas. The tasks are operational and the corporate says they’ve PPAs in place for all or elements of the manufacturing capability.
As a part of the transaction, Ørsted retains a unilateral name possibility for Stonepeak’s pursuits that may be exercised below sure circumstances after the transaction closing.
“This deal signifies the worth that our US onshore renewable power tasks can ship to our buyers whereas additionally demonstrating the holistic and versatile strategy we take to partnerships and divestments,” says Ørsted’s David Hardy. “Whereas Ørsted will proceed to function every asset over its lifetime, we’ll use this capital to fund tasks that proceed to create essentially the most worth for our stakeholders and gasoline our progress within the renewable power sector.”
The worth of the transaction is roughly $300 million, along with the $700 million in tax fairness proceeds Ørsted says it beforehand raised for this portfolio.
