The facilities, two of which are located in Texas and one in Pennsylvania, have a combined capacity of 433MW.
E.ON retains the remaining interest in the sites and will be responsible for their operation and maintenance. No financial terms were disclosed.
They are all supported by power purchase agreements with various US utilities.
Torben Möger Pedersen, CEO of PensionDanmark, added, “This is our first direct investment in US wind farms, and also our first transaction with E.ON.
“Our investment in wind farms in Denmark, and also in the USA, will provide a stable and attractive return at a level very similar to what you can expect from equities, but with a significant less risk and expose to the business cycle, so we will continue to focus strongly on investment of this type.”
Marcus Schenck, CFO of E.ON, added, “This transaction is an important step to implementing our strategy to generate more value with the use of less capital.
“With this strategic move we win the possibility to realise more of our excellent renewables pipeline and thus contribute to the transformation of the energy system. The agreement demonstrates that our infrastructure assets are very attractive for investors like PensionDanmark. Further transactions are likely to follow.”
PensionDanmark is a not-for-profit labour market pension fund established in 1993. It offers defined contribution pension, insurance and health care productsfor more than 600,000 individuals. With assets under management of €16.4bn it is the seventh largest pension fund in Denmark.
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