Vestas has received from First Reserve a firm and unconditional order for 149 V100-2.0 MW turbines to be installed at the 298 MW Kingfisher Wind project in Oklahoma.
First Reserve, the largest global private equity and infrastructure investment firm exclusively focused on energy, has agreed to acquire the construction-ready 298-MW Kingfisher Wind power generation project from Apex Clean Energy. When complete, Kingfisher is expected to be one of the two largest single-phase wind projects in Oklahoma.
Apex developed the Kingfisher Wind project, will manage construction, and will serve as asset manager during facility operation. Previously, Vestas supplied 49 V100-2.0 MW turbines to Apex for the Hoopeston Wind project in Illinois, which was subsequently acquired by IKEA.
The Kingfisher Wind project enjoys a strong, consistent wind resource. The project is scheduled to be completed in 2015.
The project’s wind turbine order comprises supply and commissioning as well as a 10-year Active Output Management (AOM 5000) service agreement. AOM 5000 includes an energy-based availability guarantee ensuring that turbines are operational when the wind is blowing.
“We are excited to secure our first agreement with First Reserve for the Kingfisher project,” said Chris Brown, president of Vestas’ sales and service division in the United States and Canada. “Driven by high reliability and steadily decreasing cost of energy, wind offers an attractive investment opportunity. The participation by a diversified energy investor such as First Reserve is a sign that our industry is mature and evolving.”
Mark Florian, Managing Director and Head of Infrastructure Funds for First Reserve, commented “First Reserve is pleased to be making one of the initial investments in its second energy infrastructure fund. Kingfisher Wind represents the opportunity to diversify the portfolio of our energy infrastructure program with experienced and reliable counterparties such as Vestas.”
“This transaction highlights Apex’s broad capabilities to deliver turn-key clean energy solutions for our financial partners,” said Mark Goodwin, Apex Clean Energy President. “Apex is excited to continue its involvement in managing all aspects of Kingfisher Wind, from development through asset management.”
— Source: Vestas