SAN DIEGO--(BUSINESS WIRE)--EDF Renewable Energy today announced it has executed a Turbine Supply Agreement (TSA) with General Electric (GE) for up to 200 megawatts of wind turbine generators. The agreement covers the supply of GE 1.85 MW models for U.S. wind projects beginning construction in 2013.
The first turbines under the TSA will be deployed at the Hereford Wind Project in the Texas Panhandle. EDF Renewable Energy and Lincoln Renewable Energy (LRE), a developer of wind and solar projects, have executed a Membership Interest Purchase Agreement, under which EDF Renewable Energy will acquire from LRE the first phase (200 MW) of the Hereford project as well as an option agreement for a total of up to 500 MW. Additionally, the company has successfully secured a long-term hedge on the first phase of this project.
“The execution of the turbine supply agreement, along with the closing of a long-term hedge, are important elements of our near-term U.S. wind business plan,” commented Ryan Pfaff, Executive Vice President of EDF Renewable Energy. “The deal can largely be credited to our long-term relationships with both GE and our hedge provider, and the confidence amongst the parties that each will deliver on its respective commitments.”
EDF Renewable Energy’s U.S. portfolio spans 16 states with 4,000 MW of developed projects and an installed capacity of 1,962 MW.
About EDF Renewable Energy:
EDF Renewable Energy is a leading U.S. independent power producer with more than 25 years of expertise in the renewable industry, covering all range of services from project development, management to operations and maintenance. EDF Renewable Energy specializes in wind and solar photovoltaic with presence in other segments of the renewable energy market: biogas, biomass, hydro, marine energy and storage solutions. The company develops, constructs, operates and manages renewable energy projects throughout the United States for its own accord as well as for third parties. EDF Renewable Energy’s portfolio consists of 4 gigawatts of developed projects with 1.9 gigawatts of installed capacity. EDF Renewable Energy is the U.S. 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