EDF Renewable Energy has sold two 40% ownership stakes in the Spearville 3 Wind Project, a 100.8 MW wind farm developed and built by the company.
Under the agreement, Eurus Energy America Corp. (EEA) will acquire a 40% stake in the project, and a BlackRock-managed fund will acquire a 40% interest. EDF will retain the remaining 20%. The transaction follows the successful closing of tax-equity financing from Bank of America Merrill Lynch in December 2012.
The Spearville 3 project, located northeast of Dodge City, Kan., comprises 63 GE XLE 1.6 MW wind turbines. The project began delivering electricity to Kansas City Power & Light last October under a 20-year power purchase agreement.
EDF Renewable Energy will continue to provide long-term operations and maintenance services to the Spearville 3 project via its affiliate, EDF Renewable Services.
‘Our investment in Spearville 3 marks an important step in the [mergers and acquisitions] arena for Eurus,’ says Mark Anderson, EEA's president and CEO. ‘It also shows the power of partnership – our relationship with EDF Renewable Energy dates back more than 10 years – and it expands the Eurus footprint in the Midwest, one of the most robust regions in the U.S. for competitively priced power from wind."