December 2018

Walmart and EDP Renewables (EDPR) recently announced three power purchase agreements (PPA) that will enable the construction of three new utility-scale wind farms — developed, owned, and operated by EDPR — in Illinois and Indiana. Walmart’s cumulative 233-MW investment includes the following:
• 123 MW from the Bright Stalk Wind Farm (a 205-MW project in McLean County, Illinois, with start of operations expected in 2019; this PPA is a part of the announcement EDPR issued July 3, 2018)
• 60 MW from the Headwaters II Wind Farm (a 200-MW project in Randolph County, Indiana, with start of operations expected in 2020; this PPA is a part of the announcement EDPR issued July 3, 2018)
• 50 MW from the Harvest Ridge Wind Farm, formerly Broadlands Wind Farm (a 200-MW project in Douglas County, Illinois, with start of operations expected in 2019; this PPA is a part of the announcement EDPR issued May 10, 2018)

Walmart’s purchase through these agreements will produce enough electricity to power more than 60,000 average homes in Illinois and 15,000 average homes in Indiana with renewable energy each year. Additionally, these wind farms will bring economic benefits to their respective regions and states in the form of jobs, landowner and tax payments, and money spent in local communities.

“Walmart has a goal to be supplied by 100 percent renewable energy and sourcing energy from wind farms developed by partners like EDP Renewables is a core component in the mix,” said Mark Vanderhelm, vice president of energy for Walmart. “Wind energy is an important part of our energy portfolio, and Walmart plans to continue our efforts to pursue renewable energy projects that are right for our customers, our business, and the environment.”

“The declining cost of renewable power has led to an increase in clean-energy procurement from companies like Walmart in recent years,” said Miguel Prado, EDP Renewables North America CEO. “The continued commitment from corporate entities in procuring renewable energy speaks volumes about the importance and value of securing fixed, competitive pricing over the long-term. EDP Renewables appreciates its partnership with Walmart and commends the company in its efforts to source all of its energy from renewable sources.”

EDP Renewables is a wind-industry leader in the states of Illinois and Indiana. To date, EDPR operates 797 MW of wind-energy projects in Illinois and, with the addition of the Bright Stalk Wind Farm and the Harvest Ridge Wind Farm, EDPR will further increase its footprint in Illinois, surpassing 1,200 MW, or 1.2 GW, of operational capacity by the end of next year.

EDPR also operates 801 MW of wind-energy projects in Indiana. With the completion of the construction of the 200-MW Meadow Lake VI Wind Farm, EDPR will exceed 1,000 MW, or 1 GW of operational capacity by the end of 2018. The company will continue to add to its renewable energy portfolio in the state in the coming years with the addition of the Headwaters II Wind Farm and the 200-MW Riverstart Solar Park that are expected to be operational in 2020 and 2022 respectively.

More info www.edpr.com

Skyline Renewables, an independent clean energy platform and Starwood Energy Group Global (“Starwood Energy”), a leading private investment firm focused on energy infrastructure, recently announced they have reached an agreement for Skyline to purchase Starwood Energy’s 51 percent interest in the Horse Creek and Electra wind farms.
Horse Creek and Electra, in Haskell and Wilbarger counties, Texas, are each 230-MW wind projects constructed by Starwood Energy that began operations in late 2016. Each project consists of 100 GE 2.3MW turbines and both include long-term hedges. Skyline will manage the portfolio after the transaction closes.

The transaction follows Starwood’s sale of a 49 percent interest in the wind farms to MEAG, Munich Re’s asset manager, in 2017. Terms of the transaction were not disclosed.

“This transaction is the culmination of many years of work by the Starwood team to develop these high-quality energy infrastructure assets, and create value for our limited partners,” said Himanshu Saxena, chief executive office of Starwood Energy. “We’re delighted that Skyline’s reputation for skilled and experienced management will continue to provide these communities with valuable revenue.”

With this latest acquisition, Skyline Renewables will grow its wind portfolio to 686 MW of controlled capacity since forming the company earlier this year as a partnership between Ardian and Transatlantic Power Holdings. Skyline Renewables announced its first acquisition of Whirlwind Energy, a 60-MW project in Northwest Texas, and an additional acquisition of Hackberry Wind Farm, a 166 MW, also in Northwest Texas, in September 2018.

“This is a very important step in our goal to become a leading independent clean energy platform with great assets that are well positioned to take advantage of changing dynamics in the renewable energy industry,” said Skyline Renewables President and CEO Martin Mugica. “We pride ourselves in our nimbleness and experienced value driven acquisitions and Starwood did an excellent job developing these wind farms. We look forward to maximizing revenues with our management expertise.”

More info www.starwoodenergygroup.com