Axium completes fourth renewables deal with EDF

The Canadian firm’s acquisition of a wind farm in Kansas comes a week after it raised $426m to help finance British Columbia's Sea-to-Sky Highway improvement P3.

A consortium led by Axium Infrastructure has agreed to buy a 50 percent stake in a 150MW wind project in Kansas developed by EDF Renewable Energy.

The Slate Creek Wind Project, which reached operation at the end of last year and has a 20-year power purchase agreement, is Axium's third transaction with EDF's North American division. After the Slate Creek deal closes, Axium, a Canadian infrastructure asset manager, will have an interest in four EDF projects generating a combined 277MW.

Axium previously bought two solar assets in Ontario from EDF in 2012, followed by the 80MW Saint-Robert-Bellarmin wind farm in 2014.

“We are delighted to partner once again with EDF RE,” said Axium's vice president and US investment director Paulo Arencibia in a statement. “With this transaction, we continue to build our US wind portfolio, increasing diversification across wind resource regions, power markets and turbine technologies.”

Axium manages dedicated infrastructure funds totalling $1.5 billion in assets under management, focusing on core assets under long-term contracts. Last week, Axium and its co-investors raised C$556.5 million ($426 million; €385 million) through a senior secured amortising bond to finance the Sea-to-Sky Highway improvement P3 project in British Columbia.