In April, Suzlon acquired Big Sky from bankrupt Edison Mission Energy (EME). As part of that agreement, Suzlon forgave a $228 million loan it had made to EME to purchase the project's turbines. The wind farm, completed in 2011, features 114 of Suzlon's S88 machines.
Soon after Suzlon acquired the project from EME, the turbine maker announced plans to offload the wind farm in a strategic sale to EverPower. Suzlon and EverPower have entered a seven-year service agreement, keeping U.S.-based subsidiary Suzlon Wind Energy Corp. involved in the project at the operations level.
"This sale of [the] Big Sky wind farm to a sound long-term investor like EverPower is an important part of our divestment strategy to hive off non-core assets, and the net proceeds of the sale will be used to fuel our business growth," explains Suzlon's Kirti Vagadia.
"We are pleased to work with Suzlon on this project," adds EverPower's Andrew Golembeski. "With the original equipment manufacturer involved in the daily operations of the wind farm, combined with EverPower's proven track record of wind farm operations, we believe the Big Sky wind farm will meet and exceed all performance expectations."
EverPower's acquisition of Big Sky gives the company a combined U.S. wind generation portfolio of 752 MW.Â