on Ãrsted A/S (isin : DK0060094928)
Ørsted Sells Stake in US Solar and Battery Projects to Energy Capital Partners
Ørsted has announced the sale of a 50% stake in three US-based solar and battery storage projects to Energy Capital Partners (ECP). The projects include Mockingbird Solar and Sparta Solar in Texas, and Eleven Mile Solar Center in Arizona. This farm-down is part of Ørsted’s ongoing divestment programme and is valued at USD 572 million. Ørsted retains a 50% equity ownership and continues to operate these projects.
The transaction will conclude over Q4 2024 and Q1 2025 and contributes to Ørsted's capital recycling efforts for future projects. So far, Ørsted has raised USD 1,306 million through tax equity and transfer agreements for these ventures.
Ørsted's partnership with ECP builds on their 2022 collaboration. Matt Himler of ECP praised the projects' contribution to clean energy. With Mockingbird, Eleven Mile, and Sparta Solar operational, Ørsted’s US portfolio exceeds 6 GW of renewable projects.
R. P.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all Ãrsted A/S news