SAN DIEGO and NEW YORK (October 11, 2016): EDF Renewables (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.
El 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 Renewables’ 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 Renewables provides a portion of the current operations and maintenance services as well as 24/7 remote monitoring from its Operations Control Center (OCC).