Vestas and First Reserve announce turbine supply agreement for 298 MW Kingfisher Wind project in the USA

With reference to Vestas Wind Systems A/S’ company announcement No. 4/2015 of 21 January 2015, Vestas has received from First Reserve a firm and unconditional order in the United States for 149 V100-2.0 MW turbines to be installed at the 298 MW Kingfisher Wind project in Oklahoma.  

First Reserve, the largest global private equity and infrastructure investment firm exclusively focused on energy, has agreed to acquire the construction-ready 298-MW Kingfisher Wind power generation project from Apex Clean Energy. When complete, Kingfisher is expected to be one of the two largest single-phase wind projects in Oklahoma.
 
Apex developed the Kingfisher Wind project, will manage construction, and will serve as asset manager during facility operation. Previously, Vestas supplied 49 V100-2.0 MW turbines to Apex for the Hoopeston Wind project in Illinois, which was subsequently acquired by IKEA. 

The Kingfisher Wind project enjoys a strong, consistent wind resource. The project is scheduled to be completed in 2015.
 
The project’s wind turbine order comprises supply and commissioning as well as a 10-year Active Output Management (AOM 5000) service agreement. AOM 5000 includes an energy-based availability guarantee ensuring that turbines are operational when the wind is blowing.

“We are excited to secure our first agreement with First Reserve for the Kingfisher project,” says Chris Brown, President of Vestas’ sales and service division in the United States and Canada. “Driven by high reliability and steadily decreasing cost of energy, wind offers an attractive investment opportunity.  The participation by a diversified energy investor such as First Reserve is a sign that our industry is mature and evolving.” 

Mark Florian, Managing Director and Head of Infrastructure Funds for First Reserve, commented “First Reserve is pleased to be making one of the initial investments in its second energy infrastructure fund.  Kingfisher Wind represents the opportunity to diversify the portfolio of our energy infrastructure program with experienced and reliable counterparties such as Vestas.”

“This transaction highlights Apex’s broad capabilities to deliver turn-key clean energy solutions for our financial partners,” said Mark Goodwin, Apex Clean Energy President.  “Apex is excited to continue its involvement in managing all aspects of Kingfisher Wind, from development through asset management.”

About Vestas
Every single day, Vestas wind turbines deliver clean energy that supports the global fight against climate change. Wind power from Vestas’ more than 52,700 wind turbines currently reduces carbon emissions by over 60 million tons of CO2 every year, while at the same time building energy security and independence.
 
Vestas has delivered wind energy in 73 countries, providing jobs for around 19,300 passionate people at our service and project sites, research facilities, factories and offices all over the world. With 52 per cent more megawatts installed than our closest competitor and more than 64 GW of cumulative installed capacity worldwide, Vestas is the world leader in wind energy.

Vestas sold its first wind turbines in the United States in 1980, and established its North America subsidiary the following year.  As of the end of Q3 2014, Vestas had installed 11,879 MW in the US.  Approximately 3,000 US employees work in our four Colorado factories, in our sales and service headquarters in Portland, Oregon, and at close to 200 wind sites currently under service contract with Vestas.

We invite you to learn more about Vestas by visiting our website at www.vestas.com and following us on our social media channels:
• www.twitter.com/vestas
• www.linkedin.com/company/vestas
• www.facebook.com/vestas
• https://plus.google.com/+vestas

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