Ørsted is acquiring Ford County Wind, a 121 MW wind farm in Ford County, Ill., from funds managed by Ares Management Corp.’s infrastructure opportunities strategy.
The wind farm is located in Midwest Independent System Operator’s (MISO) territory, further strengthening Ørsted’s presence in the region.
Ørsted acquired the 302 MW Lincoln Land Wind facility, also in MISO’s territory, from Ares last year.
Upon the closing of the acquisition, Ørsted will add 121 MW operational wind to its portfolio in the U.S. MISO market, which covers 15 states in the Midwest and the South. Ford County Wind is contracted via power purchase agreements (PPA) with Mars Inc., Silgan Containers and BHJ USA. The project reached commercial operation in March.
“I’m pleased that we continue to diversify our onshore portfolio with additional capacity in MISO Illinois and expand our relationship with Ares through the agreement to acquire Ford County Wind,” says James Giamarino, senior vice president and head of project finance and business development for Ørsted Onshore North America. “We’re proud to work with new customers Mars, Silgan Containers and BHJ USA and be able to support their decarbonization journeys.”
“We’re pleased to work with Ørsted again on this latest transaction and believe that the sale of the Ford County asset underscores the strength of our relationship and Ares’ commitment to creating high-quality climate infrastructure assets,” states Steve Porto, partner in Ares.
The acquisition is expected to be finalized later this year upon receipt of customary regulatory approvals.