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March 15, 2016

EDF Renewable Energy closes sale of New Mexico projects to BlackRock Infrastructure

EDF Renewable Energy (EDF RE) has completed the sale of 50% stake in the 250MW Roosevelt Wind Project and the 49.65MW Milo Wind Project to a fund managed by BlackRock Infrastructure.

EDF Renewable Energy (EDF RE) has completed the sale of 50% stake in the 250MW Roosevelt Wind Project and the 49.65MW Milo Wind Project to a fund managed by BlackRock Infrastructure.

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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
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Closure of the latest deal seals the partnership on the final two of five projects, which BlackRock and EDF Renewable Energy have signed agreements over the last year.

Roosevelt and Milo projects are located in Roosevelt County, New Mexico.

A total of 150 Vestas wind turbines generate electricity to serve around 170,000 houses in New Mexico.

"The North American renewable infrastructure market presents tremendous opportunity for our clients."

Roosevelt delivers power to Southwestern Public Service Company (SPS), a unit of Xcel Energy, while power generated by Milo is committed to the real-time market in the Southwest Power Pool (SPP) Regional Transmission Organization (RTO).

EDF Renewable Energy vice-president for portfolio strategy Raphael Declercq said: "In total, EDF RE has committed 50% stakes in 894MW of US wind energy projects to BlackRock since the start of 2015 along with a 40% stake in an earlier transaction.

"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 earlier invested in other projects of EDF Renewable Energy. These include 194MW Spinning Spur 3 Wind facility, 200MW Texas Longhorn wind development, and the 200MW Texas Hereford Wind project.

BlackRock Infrastructure North American renewable infrastructure team head David Giordano said: "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.

"Repeat business with a trusted partner creates reciprocal efficiencies in our transactions."

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Free Report
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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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