Transaction|December 31, 2018
Axium acquires North American wind farm portfolio from EDPR
Torys acted as Canadian counsel to EDPR with a team that included Krista Hill, Konata Lake, Marshall Rossiter and Vlad Krasner (corporate/M&A), Richard Johnson (tax), Tyson Dyck, Jonathan Myers and Henry Ren (regulatory).
On December 31, 2018, EDP Renováveis, S.A. ("EDP Renewables" or "EDPR") announced that it closed an agreement with Axium Infrastructure to sell an 80% equity stake in a portfolio of onshore wind farms in the United States and Canada. The portfolio totals 499 MW and includes three wind farm assets, namely:
- Meadow Lake VI of 200 MW, located in the state of Indiana, United States, and in operation since December 2018;
- Prairie Queen of 199 MW, located in the state of Kansas, United States, and expected to reach commercial operation during the first half of 2019; and
- Nation Rise of 100 MW, located in Ontario, Canada—For this project, EDPR closed the sale of a 75% equity stake, with the remaining 5% to be closed once the project reaches commercial operation, which expected to occur during the fourth quarter of 2019.
Axium Infrastructure is an independent investment firm dedicated to investing in core infrastructure assets.
EDP Renewables, a subsidiary of EDP-Energias de Portugal, S.A. (EDP), is a global leader in the renewable energy sector and the world's fourth-largest wind energy producer.
Further information can be found on EDP's website.