Stonepeak Partners LP entered into an agreement to acquire 957-MW Portfolio of Wind Farms in the US from Ørsted A/S for approximately $300 million.

Stonepeak Partners LP entered into an agreement to acquire 957-MW Portfolio of Wind Farms in the US from Ørsted A/S (CPSE:ORSTED) for approximately $300 million on March 13, 2024. Going forward, Stonepeak will receive 80 % of the cash distributions associated with the projects, while Ørsted will continue to operate the portfolio of assets. As part of the transaction, Ørsted retains a unilateral call option for Stonepeak?s interests that can be exercised under certain circumstances after the closing of the transaction.

Ørsted will be the managing member of the partnership and will continue to provide asset management services to the projects. Matt Falcone, Eamon Nolan, Aaron Prince, Trevor Shelton, David Peck, Lauren Collins, Peter Rogers, Ken Adler, Dave Wicklund, Zach Banks, Matt Dobbins, John Decker, Hill Wellford and Evan Miller of Vinson & Elkins LLP acted a slegal advisor to Stonepeak Partners LP.