EDF Renewable Energy and BlackRock Close on the Sale of 50 Percent Interest in Two Wind Projects in New Mexico
SAN DIEGO & NEW YORK–(BUSINESS WIRE)–EDF Renewable Energy (EDF RE) has closed on the transaction to sell a 50 percent interest in the 250 megawatt (MW) Roosevelt Wind Project and the 49.65 MW Milo Wind Project to a fund managed by BlackRock Infrastructure. The closing of this transaction seals the partnership on the final two of five projects for which BlackRock and EDF Renewable Energy have signed agreements for over the past year.
The two wind projects are adjacently located in Roosevelt County, New Mexico. The combined 150 Vestas wind turbines produce enough clean, renewable energy to power approximately 170,000 New Mexico households. Both projects are operational with Roosevelt delivering electricity to Southwestern Public Service Company (SPS), a subsidiary of Xcel Energy; Milo electricity is committed into the Real-Time market in the Southwest Power Pool (SPP) Regional Transmission Organization (RTO).
Raphael Declercq, Vice President Portfolio Strategy at EDF Renewable Energy stated, “In total, EDF RE has committed 50 percent stakes in 894 MW of US wind energy projects to BlackRock since the start of 2015 along with a 40 percent stake in an earlier transaction. Those partial sell-downs are an integral part of our business, and this particular portfolio transaction is a testament to our strong partnership with BlackRock Infrastructure; it illustrates our philosophy of building long-term relationships with leading industry counterparties.”
BlackRock Infrastructure invests in the following EDF Renewable Energy projects:
Roosevelt Wind (250 MW), New Mexico
Milo Wind (49.65 MW), New Mexico
Spinning Spur 3 Wind (194 MW), Texas
Longhorn Wind (200 MW), Texas
Hereford Wind (200 MW), Texas
Spearville 3 Wind (100.8 MW), Kansas
“The North American renewable infrastructure market presents tremendous opportunity for our clients and we are pleased to grow our successful relationship with EDF Renewable Energy,” said David Giordano, head of the North American Renewable Infrastructure team at BlackRock Infrastructure. “Repeat business with a trusted partner creates reciprocal efficiencies in our transactions.”
EDF RE remains closely involved in Roosevelt and Milo maintaining 50 percent ownership stake. EDF Renewable Services, the leading provider of renewable operations and maintenance services in North America, will provide balance-of-plant operations and maintenance for the facility including 24/7 remote monitoring from its NERC compliant Operations Control Center (OCC).