A consortium led by Axium Infrastructure has executed a purchase and sale agreement to acquire a 50% ownership interest in EDF Renewable Energy’s (EDF) Slate Creek Wind Project. The transaction is subject to a customary conditions precedent.
The 150 MW Slate Creek Wind Project, located in Sumner County, Kan., reached commercial operation on Dec. 29, 2015. The wind facility comprises 75 Vestas 2 MW wind turbines. Kansas City Power & Light purchases the electricity generated pursuant to a 20-year, fixed-price power purchase agreement (PPA).
According to EDF, the transaction marks its third with Axium. Upon the closing of the Slate Creek transaction, Axium and its investors will hold interest in four assets totaling 277 MW of installed capacity alongside EDF EN Canada and EDF. All of the assets are fully contracted under long-term PPAs.
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 $1.5 billion in assets under management, as well as more than $900 million in co-investments.
EDF will remain involved in the project as a 50% co-owner and will provide management services. EDF Renewable Services will continue to provide a portion of the current operations and maintenance services, as well as 24/7 remote monitoring from its Operations Control Center.