EDF Renewable Energy signs Turbine Supply Agreement with General Electric
Friday, Sep 13, 2013
EDF Renewable Energy today announced it has executed a Turbine Supply Agreement (TSA) with General Electric (GE) for up to 200 megawatts of wind turbine generators. The agreement covers the supply of GE 1.85 MW models for U.S. wind projects beginning construction in 2013.
“The execution of the turbine supply agreement, along with the closing of a long-term hedge, are important elements of our near-term U.S. wind business plan”
The first turbines under the TSA will be deployed at the Hereford Wind Project in the Texas Panhandle. EDF Renewable Energy and Lincoln Renewable Energy (LRE), a developer of wind and solar projects, have executed a Membership Interest Purchase Agreement, under which EDF Renewable Energy will acquire from LRE the first phase (200 MW) of the Hereford project as well as an option agreement for a total of up to 500 MW. Additionally, the company has successfully secured a long-term hedge on the first phase of this project.
“The execution of the turbine supply agreement, along with the closing of a long-term hedge, are important elements of our near-term U.S. wind business plan,” commented Ryan Pfaff, Executive Vice President of EDF Renewable Energy. “The deal can largely be credited to our long-term relationships with both GE and our hedge provider, and the confidence amongst the parties that each will deliver on its respective commitments.”
Source: Business Wire