E.ON sells half shares of US wind farms to PensionDanmark

German power utility E.ON has sold 50% of three US wind farms to Danish pension fund PensionDanmark.

The wind farms are the 180MW Papalote Creek I wind farm and the 200MW Papalote Creek II wind farms in Texas, and the 53MW Stony Creek wind farm in Pennsylvania.

E.ON will be responsible for the day-to-day operation of the wind farms, which have power purchase agreements for 90% of their energy output for another 15 years. The final transaction remains subject to regulatory approval.

The deal is E.ON’s first with PensionDanmark, which has previously bought into offshore wind farms developed by Danish utility Dong Energy.

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