A fund managed by BlackRock Infrastructure Investment Group has purchased a 90 percent interest in an 80 MW wind power portfolio consisting of the 42.5 MW Elk and 37.5 MW Hawkeye Wind power Projects (Portfolio), located in Iowa from RPM Access LLC (RPMA). The projects began commercial operations in December 2011, and October 2012, respectively and comprise a total of thirty-two 2.5 MW Nordex turbines.
The Portfolio interconnects with the ITC Midwest transmission system within the Midcontinent Independent System Operator (MISO) market. All of the output of the Portfolio is sold to Central Iowa Power Cooperative pursuant to long-term power purchase agreements.
“The Elk and Hawkeye Wind Projects exemplify the growing number of high quality renewable investment opportunities in North America,” said David Giordano, Managing Director at BlackRock. “We are excited to partner with RPMA on our first wind investment in Iowa and look forward to growing our relationship.”
Steve Dryden, CEO of RPMA said “We are excited to announce our first transaction and partnership with BlackRock in the sale of our majority interest in the Elk and Hawkeye Wind Projects. BlackRock’s position as the world’s largest investment manager presents us with a global partner who we can work with to continue to grow our development business.”