First Reserve agreed to acquire the construction-ready 298MW Kingfisher Wind power generation project from Apex Clean Energy.
Located in the Canadian County, Oklahoma, the $452m Kingfisher facility is expected to be one of the two largest single-phase wind projects in the region upon completion, which is scheduled in 2015.
Apex will be responsible for the construction of the wind project and will also serve as asset manager during facility operation.
The contract comprises supply and commissioning of turbines as well as a 10-year agreement for Active Output Management (AOM 5000) service, which includes an energy-based availability guarantee ensuring that turbines are operational when the wind is blowing.
First Reserve managing director and head of infrastructure funds Mark Florian said: "Kingfisher Wind represents the opportunity to diversify the portfolio of our energy infrastructure program with experienced and reliable counterparties such as Vestas."
Apex Clean Energy president Mark Goodwin said: "Apex is excited to continue its involvement in managing all aspects of Kingfisher Wind, from development through asset management."
According to the Oklahoma Secretary of Energy, Oklahoma is one of the top states in the US market for wind resources.
Image: Oklahoma is one of the top states in the US market for wind resources. Photo: courtesy of dan/Freedigitalphotos.net.
