EDF Renewable Energy Signs Agreement to Sell 50% of Great Western Wind Project to Alliant Energy
EDF Renewable Energy (EDF RE) announced today the signing of the Purchase and Sale Agreement by which Alliant Energy Corporation (Alliant Energy) (NYSE: LNT) will acquire a 50% ownership interest in the 225 megawatt (MW) Great Western Wind Project (Project). Completion of the transaction is subject to regulatory approval and customary conditions precedent.
“EDF RE is a renewable energy leader and we are proud to establish a partnership with them,” said Alliant Energy Vice President of Business Development Joel Schmidt. “Our 50% cash equity ownership interest in this Project aligns with Alliant Energy’s strategy to invest in renewable energy.”
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).
Located in Woodward and Ellis counties near the base of the Oklahoma panhandle, Great Western Wind is comprised of 30 V117 (unit capacity of 3.3 MW) and 63 V100 (unit capacity of 2.0 MW) wind turbines supplied by Vestas. The Project achieved commercial operations in December 2016; electricity generated is provided to Google under a long-term Power Purchase Agreement (PPA).
Raphael DeClercq, Vice President of Portfolio Strategy for EDF RE commented, “The sale of equity stakes represents an integral part of EDF Renewable Energy’s business model, allowing us to maintain a balanced ownership portfolio in order to assist in the funding of new project development. We are pleased to forge a new business relationship with Alliant Energy on this first transaction. We are confident that our expertise as a developer and operator complements Alliant Energy’s renewable energy strategy.”
EDF Renewable Energy is one of the largest renewable energy developers in North America with 9 gigawatts of wind, solar, storage, biomass and biogas projects developed throughout the U.S., Canada, and Mexico.
Alliant Energy operates as a regulated investor-owned public utility holding company. Alliant Energy’s primary focus is to provide regulated electric and natural gas service in the Midwest. The Great Western Wind Project is a non-regulated investment organized under Alliant Energy’s wholly owned subsidiary Alliant Energy Finance, LLC.
About EDF Renewable Energy:
EDF Renewable Energy is a leading US independent power producer with 30 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: distributed electricity, storage, biogas, and biomass. EDF Renewable Energy’s North American portfolio consists of 9 gigawatts of developed projects with 4.4 gigawatts of installed capacity throughout the US, Canada, and Mexico. The operations and maintenance subsidiary, EDF Renewable Services, operates 10 gigawatts 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 Alliant Energy Corporation:
Alliant Energy Corporation (NYSE: LNT), headquartered in Madison, Wis., provides regulated electric and natural gas service to 960,000 electric and 410,000 natural gas customers in the Midwest. Alliant Energy’s mission is to deliver the energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company and Wisconsin Power and Light Company are Alliant Energy’s two public utility subsidiaries. Alliant Energy Corporation is a component of the S&P 500. For more information, visit alliantenergy.com.