EDF Renewable Energy and BlackRock Close on the Sale of Two Wind Projects in New Mexico


EDF Renewable Energy recently closed on a transaction to sell a 50-percent interest in the 250-MW Roosevelt Wind Project and the 49.65-MW Milo Wind Project to a fund managed by BlackRock Infrastructure. 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.

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 Company (SPS), a subsidiary of Xcel Energy. Milo electricity is committed into the real-time market in the Southwest Power Pool (SPP) Regional Transmission Organization (RTO).

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“In total, EDF Renewable Energy  has committed 50-percent stakes in 894 MW of U.S. wind energy projects to BlackRock since the start of 2015 along with a 40-percent stake in an earlier transaction,” said Raphael Declercq, vice president of portfolio strategy at EDF Renewable Energy. “Those partial sell-downs are an integral part of our business, and this particular portfolio transaction is a testament to our strong partnership with BlackRock Infrastructure. It illustrates our philosophy of building long-term relationships with leading industry counterparties.”

BlackRock Infrastructure has invested in the following EDF Renewable Energy projects:

  • 2016: 50 percent in Roosevelt Wind at 250 MW and Milo Wind at 49.65 MW, both in New Mexico
  • 2015: 50 percent in Spinning Spur 3 Wind at 194 MW, Texas Longhorn Wind at 200 MW, and Texas Hereford Wind at 200 MW, all in Texas
  • 2013: 40 percent in Spearville 3 Wind at 100.8 MW in 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 Renewable Energy remains closely involved in the Roosevelt and Milo wind projects maintaining a 50-percent 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.

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

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. 

— Source: EDF Renewable Energy

For more information, go to www.edf-re.com.