Stonepeak has firmed an agreement with Ørsted for the offloading of an equity ownership interest in four onshore wind farms in the United States. Combined, these power plants have a total capacity of 957MW.
The value of the deal, which covers projects in Illinois, Texas and Kansas, has been calculated at approximately US$330m. The four facilities already have power purchase agreements (PPAs) for 100% of their capacities in place.
Ørsted's divestiture, its second major one in the US, is part of the company's current farm-down programme. Ørsted expects it to enable the recycle of capital for its business strategy and ongoing renewables projects.
For more information on renewables projects in the US, please visit EICDataStream.