EDF Renewable Services said March 31 that it has signed an Asset Administration Agreement with D. E. Shaw Renewable Investments LLC (DESRI) for the 300-MW Balko Wind project in Oklahoma.
Once completed, Balko Wind, which was developed by Apex Clean Energy and sold to an affiliate of DESRI in late 2014, will comprise 162 General Electric 1.85-87 wind turbines. It is located in Beaver County, one of the strongest wind resources in the state. The electricity it will generate will be delivered to Public Service Co. of Oklahoma and Western Farmers Electric Cooperative.
Dalen Copeland, Director of Business Development for EDF Renewable Services, said: “We are pleased to work with DESRI to manage the Balko project and its commercial agreements to optimize returns for our customer. We understand the substantial investment of the wind project and are excited to be able to turn our owner-operator sensibility into more holistic solutions for the strategic management of renewable energy assets.”
Bryan Martin, a managing director and head of U.S. Private Equity for the D. E. Shaw group, said: “Balko Wind is a valuable addition to DESRI’s renewable energy portfolio. We are confident in EDF Renewable Services’ depth of experience and commitment to transparency to deliver returns.”
Under the terms of the agreement, EDF Renewable Services will provide a full spectrum of project management, oversight, and administration functions to optimize lifecycle performance and project profitability. In addition, EDF RS will provide balance-of-plant services for the project’s wind turbine generators, including remote services performed by the company’s NERC-registered Operations Control Center (OCC).
Project company Balko Wind LLC said in a Feb. 27 filing at the Federal Energy Regulatory Commission of a notice of self-certification as an Exempt Wholesale Generator that its project was due to produce first test power around April 1 of this year.
EDF Renewable Services operates over 9.3 GW of wind, solar, and biomass projects throughout the U.S., Canada, and Mexico, employing over 500 people in positions ranging from on-site technicians to control center operators, data analysts, and performance engineering. EDF Renewable Services is a leading third-party provider of operations and maintenance services in North America.
D. E. Shaw Renewable Investments and its affiliates acquire long-term contracted renewable energy assets in North America. DESRI is a member of the D. E. Shaw group, a global investment and technology development firm with approximately $36 billion in investment capital as of March 1, 2015, and offices in North America, Europe, and Asia.