EDF Renewable, Black Rock close sale of two wind projects in New Mexico

EDF Renewable Energy (EDF RE) has closed on the sale of a 50% interest in the 250-MW Roosevelt Wind Project and the almost 50 MW Milo Wind Project to a fund managed by BlackRock Infrastructure.

Milo Wind is officially listed at 49.65 MW.

The closing of this transaction seals the partnership on the final two of five projects for which BlackRock and EDF Renewable Energy have signed agreements for over the past year, parties said in a March 14 news release.

The two wind projects are adjacently located in Roosevelt County, New Mexico.

The combined 150 Vestas wind turbines produce enough clean, renewable energy to power approximately 170,000 New Mexico households. Both projects are operational with Roosevelt delivering electricity to Southwestern Public Service (SPS), a subsidiary of Xcel Energy (NYSE:XEL). Milo electricity is committed into the Real-Time market in the Southwest Power Pool (SPP) Regional Transmission Organization (RTO).

BlackRock Infrastructure invests in the following EDF Renewable Energy projects:

  • 2016 – 50% Roosevelt Wind (250 MW), New Mexico Milo Wind (49.65 MW), New Mexico
  • 2015 – 50% Spinning Spur 3 Wind (194 MW), Texas Longhorn Wind (200 MW), Texas Hereford Wind (200 MW), Texas
  • 2013 – 40% Spearville 3 Wind (100.8 MW), Kansas

“The North American renewable infrastructure market presents tremendous opportunity for our clients and we are pleased to grow our successful relationship with EDF Renewable Energy,” said David Giordano, head of the North American Renewable Infrastructure team at BlackRock Infrastructure. “Repeat business with a trusted partner creates reciprocal efficiencies in our transactions.”

EDF RE remains closely involved in Roosevelt and Milo maintaining 50% ownership stake. EDF Renewable Services, a leading provider of renewable operations and maintenance services in North America, will provide balance-of-plant operations and maintenance for the facility including 24/7 remote monitoring from its NERC compliant Operations Control Center (OCC).

BlackRock operates one of the largest renewable power investment platforms in the world with over $1.5bn of equity assets under management. To date, BlackRock Infrastructure has a total invested portfolio of approximately 1.9GW of wind and solar projects and $2 billion AUM located across the USA, Canada, Ireland, Sweden, France and the UK.

EDF Renewable Energy is one of the largest renewable energy developers in North America with 7.8 GW of wind, solar, biomass, and biogas projects developed throughout the U.S., Canada, and Mexico.

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.