The deal allows Orsted to "recycle capital to support its business plan and future value-creating renewable energy projects", the company said in a statement.
It said Stonepeak will receive 80% of cash distributions associated with the projects, while Orsted will continue to operate the portfolio of assets.
Orsted retains a unilateral call option for Stonepeak's interests that can be exercised under certain circumstances after the closing of the transaction, it said.
