United States

United States

BlackRock acquires US project stakes from EDF

UNITED STATES: EDF Renewable Energy has sold a 50% stake in two wind projects in New Mexico to investment firm BlackRock Infrastructure for an undisclosed fee.

BlackRock acquired a 50% stake in EDF RE's Spinning Spur project in 2015
BlackRock acquired a 50% stake in EDF RE's Spinning Spur project in 2015

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BlackRock will own half of the adjacent 250MW Roosevelt Wind and 49.65MW Milo Wind projects in New Mexico, southern US.

In November 2015, BlackRock agreed to acquire a 50% stake in five EDF RE projects totalling 894MW in the US.

Its stakes in the Roosevelt and Milo Wind projects join the 194MW Spinning Spur, 200MW Longhorn Wind and 200MW Hereford Wind sites in Texas BlackRock already bought under the deal.

The two New Mexico projects are powered by Vestas V100 turbines and were completed in January 2016. EDF will continue to service the projects.

EDF RE vice president of portfolio strategy Raphael Declercq said the transactions were "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."

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