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EDF Renewable Services Signs Asset Administration Contract with D. E. Shaw Renewable Investments

By Business Wire News   



SAN DIEGO

EDF Renewable Services (EDF RS), the leading provider of renewable operations and maintenance services in North America, has signed an Asset Administration Agreement with D. E. Shaw Renewable Investments, L.L.C. (DESRI) for the 300 megawatt (MW) Balko Wind project in Oklahoma.

Once completed, Balko Wind, which was developed by Apex Clean Energy and sold to an affiliate of DESRI in late 2014, will comprise 162 GE 1.85-87 wind turbines. It is located in Beaver County, one of the strongest wind resources in the state; the electricity it will generate will be delivered to the Public Service Company of Oklahoma and Western Farmers Electric Cooperative.

Dalen Copeland, Director of Business Development for EDF Renewable Services, commented, “We are pleased to work with DESRI to manage the Balko project and its commercial agreements to optimize returns for our customer. We understand the substantial investment of the wind project and are excited to be able to turn our owner-operator sensibility into more holistic solutions for the strategic management of renewable energy assets.”

Bryan Martin, a managing director and head of U.S. Private Equity for the D. E. Shaw group, said, “Balko Wind is a valuable addition to DESRI’s renewable energy portfolio. We are confident in EDF Renewable Services’ depth of experience and commitment to transparency to deliver returns.”

Under the terms of the agreement, EDF Renewable Services will provide a full spectrum of project management, oversight, and administration functions to optimize lifecycle performance and project profitability. In addition, EDF RS will provide balance-of-plant services for the project’s wind turbine generators, including remote services performed by the company’s NERC-registered Operations Control Center (OCC). The OCC provides an efficient, reliable, and secure operating platform, while benefiting from the centralization of SCADA (Supervisory Control and Data Acquisition) functions and consolidation of multiple vendor environments to provide a common operating view. EDF RS also brings enhanced service offerings like auxiliary engineering and SCADA solutions to its strategic partners and customers.

EDF Renewable Services operates over 9.3 gigawatts of wind, solar, and biomass projects throughout the U.S., Canada, and Mexico, employing over 500 people in positions ranging from on-site technicians to control center operators, data analysts, and performance engineering. EDF Renewable Services has the resources and experience to optimize project availability and maximize revenues.

About EDF Renewable Services

EDF Renewable Services is the leading third-party provider of operations and maintenance services in North America. With 28 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 9.3 gigawatts of wind, solar, and bioenergy under contract, EDF Renewable Services is the trusted leader in O&M. For more information visit: www.edf-renewable-services.com.

About D. E. Shaw Renewable Investments, L.L.C.

D. E. Shaw Renewable Investments (DESRI) and its affiliates acquire long-term contracted renewable energy assets in North America. DESRI is a member of the D. E. Shaw group, a global investment and technology development firm with approximately $36 billion in investment capital as of March 1, 2015, and offices in North America, Europe, and Asia.

EDF Renewable Services
Sandi Briner
+1 858-521-3525
Sandi.Briner@edf-re.com
or
For D. E. Shaw Media inquiries:
Kekst and Company
Anntal Silver
+1 212-521-4849
Anntal-silver@kekst.com

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