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Home > Finance > Orsted divests 50% stake in three US onshore projects for $572 million

Finance

Orsted divests 50% stake in three US onshore projects for $572 million

Published by Global Banking and Finance Review

Posted on December 18, 2024

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COPENHAGEN (Reuters) - Denmark's Orsted said on Wednesday it would divest a 50% equity stake in three U.S. onshore projects to Energy Capital Partners for $572 million.

The farm-downs include two solar farms in Texas, knpwn as Mockingbird Solar and Sparta Solar, as well as Eleven Mile Solar Center, a battery storage project in Arizona, Orsted said in a statement.

The company will retain a 50% equity ownership interest in the three projects and will continue to operate the projects over their lifespan, it added.

(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)

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