June 16 (Renewables Now) - EDF Renewable Energy (EDF RE) said today it has agreed to sell a 50% stake in its 225-MW Great Western wind farm in Oklahoma to Alliant Energy Corp (NYSE:LNT).
The wind farm started commercial operation in December last year. It consists of a total of 93 turbines of two different models supplied by Denmark's Vestas (CPH:VWS). The plant is selling its output to Google under a long-term contract.
Completion of the 50% stake sale to Alliant Energy is subject to regulatory approval and customary conditions precedent.
EDF RE, a subsidiary of the renewables arm of French power group EDF (EPA:EDF), keeps the other 50% of the project. It also provides management services, while EDF Renewable Services provides part of the current operations and maintenance services, as well as 24/7 remote monitoring.
"The sale of equity stakes represents an integral part of EDF Renewable Energy’s business model, allowing us to maintain a balanced ownership portfolio in order to assist in the funding of new project development," said Raphael DeClercq, vice president of portfolio strategy for EDF RE.
Alliant Energy vice president of business development Joel Schmidt said the acquisition of the 50% interest in the project is in line with Alliant Energy's strategy to invest in renewable energy.