EDF Renewable Energy and Axium Infrastructure Close on Agreement to Partner on Slate Creek Wind Project
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.