SOURCE: EDF Renewable Energy
SAN DIEGO, CA--(Marketwire - Sep 12, 2012) - EDF Renewable Energy, formerly enXco, today announced that the 140 megawatt Pacific Wind Project, located in Kern County, California, is operational and supplying electricity to the regional transmission grid.
The project, developed and owned by EDF Renewable Energy, will deliver carbon-free electricity into the CAISO transmission system for the benefit of San Diego Gas and Electric Company's (SDG&E) generation portfolio under a 20-year Power Purchase Agreement.
In addition, the company has closed financing for the project via a sale-leaseback transaction with Bankers Commercial Corp, a subsidiary of Union Bank, Metropolitan Life Insurance Company, and Citibank, NA. With this transaction, EDF Renewable Energy has successfully closed more than $4 billion in financing facilities over the last 10 years.
Consisting of REpower MM92 turbines, Pacific Wind generates electricity to supply approximately 56,000 customers with renewable energy. EDF Renewable Services, formerly enXco Service Corporation, will provide operations and maintenance services.
"EDF Renewable Energy recognizes and appreciates the hard work of our partners, in particular San Diego Gas & Electric, which has resulted in a wind project that offers important economic and environmental benefits to Kern County," said Mark Tholke, Vice President of EDF Renewable Energy's Southwest Region. "Policy support, such as California's 33% mandate for renewable energy and the federal Production Tax Credit, are critical to level the playing field and provide for a stable wind industry that continues to produce jobs and tax revenues to local economies. This project, according to an economic impact study, is expected to generate over $300 Million in total economic benefits for Kern County businesses, government, and households over the life of the project. We look forward to a continued productive relationship with SDG&E and the communities of Kern County to further our efforts to supply clean energy to the nation's grid."
"SDG&E is pleased that the Pacific Wind project is now generating renewable energy to the electric grid, providing our customers with clean energy," said Matt Burkhart, Vice President of Electric and Fuel Procurement for SDG&E. "We look forward to continuing to work with EDF Renewable Energy on vital renewable energy projects that will help push California closer to its 33 percent renewable energy goal."
Pacific Wind Project represents EDF Renewable Energy's 20th owned renewable energy project in California generating a combined 635.5 MW of clean energy for the state. This project brings EDF Renewable Energy's gross installed capacity in the United States to 1,467 MW.
About EDF Renewable Energy:
EDF Renewable Energy -- formerly enXco -- is a leading U.S. independent power producer with more than 25 years of expertise in the renewable industry, covering all range of services from project development, management to operations and maintenance. EDF Renewable Energy specializes in wind and solar photovoltaic with presence in other segments of the renewable energy market: biogas, biomass, hydro, marine energy and storage solutions. The company develops, constructs, operates and manages renewable energy projects throughout the United States for its own accord as well as for third parties. EDF Renewable Energy's portfolio consists of over 4.5 gigawatts of developed projects with 1.5 gigawatts of installed capacity. EDF Renewable Energy is the U.S. subsidiary of EDF Energies Nouvelles. EDF Energies Nouvelles is the renewable energy arm of the EDF group, the leading electricity company in the world. For more information visit: www.edf-re.com
About EDF Renewable Services:
EDF Renewable Services -- formerly enXco Service Corporation -- is the leading third-party provider of operations and maintenance services in North America. With 25 years of experience, EDF Renewable Services understands renewable energy facilities represent a substantial investment. The company takes an owner-operator approach to ensure maximum returns on the asset, full project value, and ongoing profitability for new and existing facilities. As part of a global organization with utility-scale wind and solar plants, the company brings depth of experience to every project. With more than 6 gigawatts of wind and solar under contract, EDF Renewable Services is the trusted leader in O&M. For more information visit: www.edf-renewable-services.com