Stonepeak Buys into 957 MW Ørsted Portfolio

Ørsted's Ford Ridge wind farm
(Source: Ørsted)

Ørsted is selling equity stakes in four onshore wind farms totalling 957MW in the US to investment firm Stonepeak for $300 million, and plans to recycle the proceeds of the sales into other projects. Stonepeak is set to receive 80% of the cash distributions associated with the four projects. Ørsted will continue to operate the portfolio.

The projects are the Ford Ridge wind farm in Illinois; the Sunflower Wind project in Kansas; and the Helena and Western Trail developments in Texas.

Ørsted added that it has previously raised around $700m of tax equity at the assets, bringing the total proceeds raised to around $1bn.