SAN DIEGO--(EON: Enhanced Online News)--EDF Renewable Energy (EDF RE) announced today that Southern Company subsidiary Southern Power has closed on Purchase and Sale Agreements to acquire 100% ownership interest in the 174 megawatt (MW) Salt Fork Wind Project and the 126 MW Tyler Bluff Wind Project. Both projects have achieved commercial operation.
“The sale of a portion of 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.”
The Salt Fork Wind Project, located in Donley and Gray Counties, Texas, consists of 87 wind turbines manufactured by Vestas. The electricity and associated renewable energy credits (RECs) generated by the facility will be sold under separate, long-term contracts. The City of Garland has signed a long-term power purchase agreement (PPA) for 150 MW, and Salesforce has signed an agreement for 24 MW.
The Tyler Bluff Wind Facility, located in Cooke County, Texas, consists of 52 wind turbines manufactured by Siemens. The majority of the facility’s output is covered by an agreement with Procter & Gamble, allowing the Company to offset 100% of the electricity needed for all its North American based Fabric & Home Care plants where products such as Tide, Downy, and Febreze are manufactured.
“The EDF RE team is pleased to forge a new business relationship with Southern Power through these transactions. We are confident that our expertise as a developer, construction manager and operator complements Southern Power’s strategy to grow its wholesale business through the acquisition of renewable assets covered by long-term contracts,” commented Raphael Declercq, Vice President of Portfolio Strategy. “The sale of a portion of 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.”
EDF Renewable Services, the operations and maintenance subsidiary of EDF RE, will provide balance-of-plant services for the projects.
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.
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: storage, biogas, biomass, hydro, and marine energy. EDF Renewable Energy’s North American portfolio consists of 8 gigawatts of developed projects with 4.1 gigawatts of installed capacity throughout the US, Canada, and Mexico. The operations and maintenance subsidiary, EDF Renewable Services, operates 11 GW 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