Ørsted has signed a transaction with Stonepeak, whereby Ørsted will divest to Stonepeak an equity ownership stake in a portfolio consisting of four US onshore wind farms with a total capacity of 957 MW.
The portfolio consists of four wind farms across three states: The Ford Ridge Wind project in Illinois, the Helena Wind and Western Trail Wind projects in Texas, and the Sunflower Wind project in Kansas. The projects are all currently operational and have power purchase agreements in place for all or parts of the production capacity. The value of the transaction is approximately USD 300 million. In addition, Ørsted has previously raised approximately USD 700 million in tax equity proceeds for this portfolio, bringing the total proceeds raised to approximately USD 1 billion. Going forward, Stonepeak will receive 80% of the cash distributions associated with the projects, while Ørsted will continue to operate the portfolio of assets.
