25 October 2012

Marubeni acquires interest in Lakefield Wind Project in the U.S. owned by EDF Renewable Energy

25 October 2012 - Marubeni Corporation announced that it has completed a transaction to acquire a 50 percent economic interest in a wind power generation project owned by EDF Renewable Energy, a renewable energy company in the North American market owned by the French utility, Electricité de France (“EDF”)

The Lakefield Wind Project, located in Jackson County Minnesota, is fully operational and supplies carbon-free electricity into the MISO transmission system under a 20-year power purchase agreement with Indianapolis Power & Light. Lakefield commenced operation in 2011 and consists of 137 General Electric 1.5 megawatt wind turbines with the capacity to generate 205.5 megawatts of renewable energy for more than 68,000 homes. 

EDF Renewable Services, formerly enXco Service Corporation, will continue to provide operations and maintenance services. Marubeni will participate in asset management roles working with EDF Renewable Energy in the administration of the project. 

Marubeni promotes various renewable energy business backed by the increase of global need for low-carbon power sources. In the wind power generation field, Marubeni is involved in a wide range of business such as project development, experimental study activity, investment in onshore/offshore wind power generation projects and transmission and distribution business, etc in domestic and overseas market. Lakefield Project will be Marubeni’s second wind power project investment in the North American market, next to the Raleigh Wind Energy Centre Project in Ontario, Canada where Marubeni joined in 2010. 

EDF Renewable Energy is one of the largest renewable energy players in the U.S. market and owns more than 1,400 MW of renewable power generation assets and more than 6,000MW of O&M service contracts through its affiliate company, EDF Renewable Services. EDF is a global leader in the utility industry and Marubeni will leverage this transaction and pursue its business opportunities with both in North America and other regions. 

Upon completion of this transaction, Marubeni’s total generation capacity, worldwide, will be 30,091MW (gross) and 8,938MW (net). 

Source: Marubeni Corporation and EDF Renewable Energy