A consortium led by Axium Infrastructure (Axium) has executed a purchase and sale agreement to acquire a 50% stake in the Slate Creek Wind Project.
The transaction marks the third acquisition by Axium in partnership with EDF EN North America.
The Slate Creek wind project which started its commercial operations in December, 2015 features 75 of Vestas 2MW turbines.
Kansas City Power & Light has agreed to buy the energy generated at the facility for a period of 20 years with fixed price.
Upon completion of the acquisition, Axium and its investors are planning to acquire four assets totalling 277MW of installed capacity along with EDF Canada and EDF Renewable energy.
All of the assets that Axium is planning to acquire already have fully contracted long-term power purchase agreements.
EDF Renewable Energy portfolio strategy vice president Raphael Declercq said: “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.
“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.”
As per the agreement, EDF RE will remain as a 50% co-owner and will provide management services. EDF Renewable Services will provide a portion of current operations and maintenance services as well as 24/7 remote monitoring from its Operations Control Center (OCC).
Axium Infrastructure US Vice President and Investment Director Paulo Arencibia said: “We are delighted to partner once again with EDF RE.
“With this transaction, we continue to build our US wind portfolio, increasing diversification across wind resource regions, power markets and turbine technologies.”