EDF Renewable’s Shiloh IV wind project goes operational

EDF Renewable Energy said Jan. 8 that the 102.5-MW Shiloh IV Wind Project, located in Solano County, Calif., became operational on Dec. 21, 2012.

The company also said it has closed on the financing for the project via a sale-leaseback transaction with Union Bank of California Leasing Inc., a subsidiary of Union Bank.

The project, developed and owned by EDF Renewable, will deliver carbon-free electricity into the California ISO transmission system for the benefit of Pacific Gas and Electric, a subsidary of PG&E Corp. (NYSE: PCG), under a 25-year power purchase agreement.

Consisting of 50 REpower MM92 turbines, Shiloh IV represents the largest operational wind repowering project in the country, whereby older wind technology installed in the late 1980s was replaced with modern technology, EDF noted. This allowed a ten-fold increase in clean electricity generated with 22% fewer wind turbines. EDF Renewable Services, formerly enXco Service Corp., will provide operations and maintenance services.

“EDF Renewable Energy recognizes and appreciates the hard work of our partners, in particular Pacific Gas and Electric and Union Bank which has resulted in a wind project that offers important economic and environmental benefits to Solano County,” said Tristan Grimbert, President and CEO of EDF Renewable. “The Shiloh IV project underscores the importance of technical innovation in the wind industry and its continued progress. As well it demonstrates our ability to identify the optimal financing solution for each individual project. We extend our appreciation to Union Bank for their commendable effort and collaboration, which marks the third financing arrangement between our companies in 2012.”

EDF Renewable Energy said it has successfully closed more than $5bn in financing facilities over the last 10 years and an unprecedented $1.6bn in 2012 alone.

Lance Markowitz, Senior Vice President and Head of the Leasing and Asset Finance Division at Union Bank, said: “The project is a testament to the EDF RE team given its efficient generation attractively situated between the Bay Area and Sacramento. We are particularly excited to be involved given that Shiloh IV serves such a key portion of Union Bank’s footprint.”

“Shiloh IV demonstrates our ongoing commitment to provide PG&E’s customers with sustainable green power today and as California marches forward into a clean energy future,” said Fong Wan, Senior Vice President of Energy Procurement for the utility. “PG&E delivers some of the cleanest energy in the nation to our customers, more than half of which comes from sources which are carbon free. We look forward to continuing to work with EDF Renewable Energy on vital renewable energy projects that will help push California closer to its 33 percent renewable energy goal.”

EDF Renewable – formerly enXco – is a leading U.S. independent power producer that specializes in wind and solar photovoltaic with presence in other segments of the renewable energy market: biogas, biomass, hydro, marine energy and storage solutions. EDF Renewable’s portfolio consists of over 3.5 GW of developed projects with 1.8 GW of installed capacity.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.