Upon the closing of the acquisition, Ørsted will add 121 MW operational wind to its portfolio in the US MISO market, which covers 15 states in the Midwest and the South. Ford County Wind is contracted via power purchase agreements (PPA’s) with Mars, Incorporated, Silgan Containers, and BHJ USA. The project reached commercial operation in March.
Ørsted announced that it has agreed to acquire Ford County Wind, a 121 MW onshore wind farm in Ford County, Illinois, from funds managed by Ares Management Corporation’s Infrastructure Opportunities strategy (‘Ares’). 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.
James Giamarino, Senior Vice President and Head of Project Finance & Business Development for Ørsted Onshore North America, says: “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. We’re proud to work with new customers Mars, Silgan Containers, and BHJ USA and be able to support their decarbonisation journeys.”
Steve Porto, Partner in Ares Infrastructure Opportunities, said: “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.”
The acquisition is expected to be finalised later this year upon receipt of customary regulatory approvals. Ford County Wind brings Ørsted Onshore’s US capacity in operation and under construction to approximately 4.4 GW.
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Moreover, Ørsted provides energy products to its customers. Ørsted is the only energy company in the world with a science-based net-zero emissions target as validated by the Science Based Targets initiative (SBTi). Ørsted ranks as the world’s most sustainable energy company in Corporate Knights’ 2022 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 7,016 people. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2021, the group’s revenue was DKK 77.7 billion (EUR 10.4 billion).