EDF Renewable Energy and Axium Infrastructure Enter into an Agreement to Partner on Slate Creek Wind Project
EDF
Renewable Energy (EDF RE) announced today that a
consortium led by Axium
Infrastructure (Axium) has executed a purchase and sale
agreement to acquire a 50% ownership interest in the Slate Creek Wind
Project. The transaction is subject to customary conditions precedent.
The 150 MW Slate
Creek Wind Project in Sumner County, Kansas reached commercial
operation on December 29, 2015. The wind facility is comprised of 75
Vestas 2 MW wind turbines. Kansas City Power & Light purchases the
electricity generated pursuant to a 20-year, fixed-price power purchase
agreement.
This transaction marks the third acquisition by Axium in partnership
with EDF EN North America. Upon the closing of the Slate Creek
transaction, Axium and its investors will hold interest in four assets
totaling 277 megawatts (MW) of installed capacity alongside EDF EN
Canada and EDF Renewable Energy. All of the assets are fully contracted
under long-term power purchase agreements.
“The EDF RE team is excited to bring their expertise as developer, asset
manager and operator to this first partnership with Axium in the United
States,” commented Raphael
Declercq, Vice President of Portfolio Strategy. “In addition to this
deal, we have transacted with Axium on two solar assets in Ontario in
2012 and on the Saint-Robert-Bellarmin wind farm in 2014. The sale of
equity stakes in our assets represents an integral part of our business
model to maintain a balance between growing our own portfolio while
continuing to help fund the development of new projects.”
“We are delighted to partner once again with EDF RE,” said Paulo
Arencibia, Vice President and Investment Director of Axium
Infrastructure US Inc. “With this transaction, we continue to build
our US wind portfolio, increasing diversification across wind resource
regions, power markets and turbine technologies.”
EDF RE will remain involved in the project as a 50% co-owner and will
provide management services. EDF
Renewable Services will continue to provide a portion of the current
operations and maintenance services as well as 24/7
remote monitoring from its Operations Control Center (OCC).
EDF Renewable Energy is one of the largest renewable energy developers
in North America with 8 gigawatts of wind, solar, storage, biomass and
biogas projects developed throughout the US, Canada, and Mexico.
Axium Infrastructure is an independent portfolio management firm
dedicated to generating long-term investment returns through investing
in core infrastructure assets. Axium Infrastructure manages dedicated
infrastructure funds having $1.5 billion in assets under management as
well as more than $900 million in co-investments.
About EDF Renewable Energy:
EDF Renewable Energy is a leading US independent power producer with
more than 25 years of expertise in the renewable industry, covering all
range of services from project origination, development, sales and
marketing, to long-term asset management. EDF Renewable Energy
specializes in wind and solar photovoltaic with presence in other
segments of the renewable energy market: storage, biogas, biomass,
hydro, and marine energy. EDF Renewable Energy’s North American
portfolio consists of 8 gigawatts of developed projects with 4 gigawatts
of installed capacity throughout the US, Canada, and Mexico. The
operations and maintenance subsidiary, EDF Renewable Services, operates
over 10 GW throughout North America. EDF Renewable Energy is a
subsidiary of EDF Energies Nouvelles. EDF Energies Nouvelles is the
renewable energy arm of the EDF group, the leading electricity company
in the world. For more information visit: www.edf-re.com.
About Axium Infrastructure Inc.:
Axium Infrastructure is an independent portfolio management firm
dedicated to generating long-term investment returns through investing
in core infrastructure assets. Axium Infrastructure manages dedicated
infrastructure funds having $1.5 billion in assets under management as
well as more than $900 million in co-investments. Focus is placed on
assets that are supported by robust market demand and under long-term
contract with creditworthy counterparties. The firm benefits from the
capabilities of a group of specialists with decades of experience
acquiring, developing, financing, operating and managing infrastructure
assets. For further information, please visit www.axiuminfra.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160711006190/en/
Copyright Business Wire 2016