DNNGY - Ørsted sells 50% stake in U.S. wind solar assets in $410M deal

Ørsted ( OTCPK:DNNGY ) said Friday it agreed to sell a 50% stake in a U.S. portfolio of renewable energy assets to Energy Capital Partners for $410M.

The 862 MW portfolio consists of three onshore wind farms - Lincoln Land Wind, Plum Creek Wind and Willow Creek Wind - as well as the Muscle Shoals solar farm.

Ørsted said it will be the managing member of the partnership and provide asset management services to the projects.

The projects are all operational and have power purchase agreements in place for all or parts of the production capacity, the Danish company said.

Ørsted should benefit from the Inflation Reduction Act, which provisions for up to 30% of the American offshore wind project pipeline to be financed with tax credits, William Mack writes in an analysis published on Seeking Alpha .

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