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OSLO, March 13 (Reuters) – Denmark’s Orsted said on Wednesday it has agreed to sell stakes in four U.S. onshore wind farms with a total capacity of 957 megawatt to investment group Stonepeak for around $300 million.
The deal allows Orsted to “recycle capital to support its business plan and future value-creating renewable energy projects”, the company said in a statement.
It said Stonepeak will receive 80% of cash distributions associated with the projects, while Orsted will continue to operate the portfolio of assets.
Orsted retains a unilateral call option for Stonepeak’s interests that can be exercised under certain circumstances after the closing of the transaction, it said. (Reporting by Terje Solsvik, editing by Anna Ringstrom)
