May 7, 2014
Suzlon Group, the world’s fifth largest wind turbine manufacturer, announced the completion of the sale of the 240 MW Big Sky Wind Farm in Illinois to EverPower Wind Holdings, Inc., which was previously announced on April 9.
Suzlon Group had recently acquired the Big Sky wind farm from Edison Mission Energy via their fully owned US-based subsidiary Suzlon Wind Energy Corp (SWECO).
Suzlon Group has finalized its agreement with EverPower to sell the project located in Illinois, about 95 miles west of Chicago. Suzlon and EverPower also agreed to a seven year service agreement, keeping SWECO involved in the project at the operations level.
This acquisition of Big Sky by EverPower makes it the nation's 20th largest wind generator, with a combined capacity of 752MW in the US in winder power generation.
“We are very pleased to welcome EverPower to the Suzlon family of customers,” said Duncan Koerbel, CEO of Suzlon Wind Energy Corporation and CTO of the Suzlon Group. “The SWECO OMS team looks forward to partnering with EverPower to maintain the high standards of availability and reliability at Big Sky that we have seen since operations started at Big Sky four years ago.”
“We are pleased to work with Suzlon on this project,” said Andrew Golembeski, Executive Vice President and Chief Operating Officer of EverPower. “With the original equipment manufacturer involved in the daily operations of the wind farm, combined with EverPower’s proven track record of wind farm operations, we believe the Big Sky Wind Farm will meet and exceed all performance expectations.”
“This sale of Big Sky Wind Farm to a sound long term investor like EverPower is an important part of our divestment strategy to hive off non-core assets, and the net proceeds of the sale will be used to fuel our business growth,” said Kirti Vagadia, Group Head – Finance at Suzlon.
Completed in early 2011, the Big Sky Project utilizes 114 Suzlon 2.1MW S88 turbines to generate enough electricity per annum for nearly 50,000 homes while also offsetting over 225,000 tons of CO2 emissions.
About Suzlon Group
The Suzlon Group is ranked as the world’s fifth largest* wind turbine supplier, in terms of cumulative installed capacity and market share, at the end of 2013. The company’s global spread extends across Asia, Australia, Europe, Africa and North and South America with over 24000 MW (@24 GW)of wind energy capacity installed, operations across over 30 countries and a workforce of over 10,000. The Group offers one of the most comprehensive product portfolios – ranging from sub-megawatt onshore turbines at 600 Kilowatts (KW), to the world’s largest commercially-available offshore turbine at 6.15 MW – with a vertically integrated, low-cost, manufacturing base. The Group – headquartered at Suzlon One Earth in Pune, India – comprises Suzlon Energy Limited and its subsidiaries, including Senvion SE. Visit us at www.suzlon.com
About Suzlon Wind Energy Corporation
Suzlon Wind Energy Corporation, which focuses on the North American market, is a subsidiary of Suzlon Energy Limited, of Pune, India. The sales and service headquarters for North America is located in Chicago, IL, where the service group monitors and oversees the maintenance of 1378 wind turbine generators, totalling 2,716 MW. Suzlon maintains its strong presence in the North American market largely due to its working philosophy of being easy to do business with, transparency with customers and maintaining one the highest safety ratings in the wind industry.
EverPower Wind Holdings, Inc., headquartered in Pittsburgh with offices in New York City and Bellefontaine, Ohio, is a developer, owner and operator of utility grade wind projects. Since its founding in 2002, EverPower has used a unique approach to wind power development by partnering with landowners and communities to establish itself as a premier developer, owner, and operator of wind projects in the US. To date, EverPower currently has seven operational wind facilities with a nameplate capacity of approximately 752 MW in four states. EverPower has been owned by Terra Firma Capital Partners, a European private equity firm, since 2009.
For more information:
Suzlon Wind Energy Corporation
Contact person: Ashish Gupta, Investor Relations
Tel: +91 (22) 6639 3252
Contact person: Mr. Ravi Muthreja, Group Head – Corporate Communi
Tel: +91.9004.302.000 / +91.9820.030.999
Contact person: Kevin Sheen, Press Contact
Tel: +1 646-839-8919
Contact person: Ryan O'Keeffe
Tel: +44 (0)20 7251 3801
Contact person: David Capparelli, VP Sales, Business Development &
Suzlon Wind Energy Corporation
Tel: +1 773 328 5077 ext. 301
Fax: +1 773 444 0588