Vestas has received from First Reserve a firm and unconditional order in the United States for 149 V100-2.0 MW turbines to be installed at the 298 MW Kingfisher Wind project in Oklahoma.Under the terms of the deal, First Reserve will 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.
“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. “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,1 said the Kingfisher Wind represents the opportunity to diversify the portfolio of the company's energy infrastructure program with experienced and reliable counterparties such as Vestas.
Apex Clean Energy, which developed the Kingfisher Wind project, will manage construction and 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.
“This transaction highlights Apex’s broad capabilities to deliver turn-key clean energy solutions for our financial partners,” said Mark Goodwin, president, Apex Clean Energy. “Apex is excited to continue its involvement in managing all aspects of Kingfisher Wind, from development through asset management.”
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.
The Kingfisher Wind Power project is scheduled to be completed in 2015.
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1. First Reserve is touted as the largest global private equity and infrastructure investment firm exclusively focused on energy.