EDF Renewable Energy to sell half of ownership of Great Western Wind Project to Alliant Energy
EDF Renewable Energy (EDF RE) recently announced that it signed a Purchase and Sale Agreement with Alliant Energy Corporation, by which Alliant will acquire 50 percent ownership interest in the Great Western Wind Project in Woodward and Ellis counties, Oklahoma.
Completion of the transaction is subject to regulatory approval and customary conditions precedent.
The 225-megawatt project is made up of 30 V117 and 63 V100 wind turbines supplied by Vestas. It began commercial operations in December 2016 and provides electricity to Google under a long-term Power Purchase Agreement (PPA).
“EDF RE is a renewable energy leader and we are proud to establish a partnership with them,” Alliant Energy Vice President of Business Development Joel Schmidt said. “Our 50 percent cash equity ownership interest in this Project aligns with Alliant Energy’s strategy to invest in renewable energy.”
EDF RE remains a 50 percent co-owner of the project and will continue to provide 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).
“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,” Raphael DeClercq, vice president of portfolio strategy for EDF RE, said. “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.”
