The Danish energy group Ørsted has signed a US$300m agreement with the US investment firm Stonepeak to divest an equity ownership stake in a portfolio consisting of four onshore wind projects in the United States with a total capacity of 957 MW. The portfolio consists of four fully operational projects currently supported by power purchase agreements (PPA’s) across three US 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. Stonepeak will receive 80% of the cash distributions from the projects, while Ørsted will operate the portfolio.
The deal is part of Ørsted’s strategy to reallocate capital towards future projects by selling ownership shares of operational assets. Ørsted currently has a portfolio of nearly 6 GW of onshore wind, solar, and battery storage projects in operation and under construction across the United States.