SAN DIEGO & NEW YORK--(BUSINESS WIRE)--EDF Renewable Energy (EDF RE) and a consortium led by Axium Infrastructure (Axium) announced the closing of the Slate Creek Wind acquisition, by which Axium acquired a 50% ownership interest in the 150 megawatt (MW) Slate Creek Wind Project.
The Slate Creek Wind Project, which is located in central Kansas, achieved commercial operations in December 2015. The project is comprised of 75 Vestas 2.0-MW wind turbines. Kansas City Power & Light purchases the electricity generated pursuant to a 20-year, fixed-price power purchase agreement.
With this closing, Axium and its investors now own 277 MW of installed renewable assets in partnership with EDF EN North America in the U.S. and Canada. All of these assets are contracted under long-term power purchase agreements.
The sale of equity stakes represents an integral part of EDF Renewable Energy’s business model, allowing EDF RE to maintain a balanced ownership portfolio in order to assist in the funding of new project development. EDF RE remains involved in the project as a 50% co-owner and provides management services. EDF Renewable Services provides 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 U.S., 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 over C$1.5 billion in assets under management as well as approximately C$1.0 billion 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 over C$1.5 billion in assets under management as well as approximately C$1.0 billion 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.