Exus Management Partners is partnering with commodities trader Vitol to manage three wind farms, totaling 244MW in the US state of Pennsylvania.
Vitol has agreed to acquire the portfolio from a fund managed by BlackRock, with the transaction expected to close later this quarter.
Exus will deliver full construction, energy, and asset management across the portfolio, applying latest wind technology to increase annual energy production and extend asset life.
The company said it has a “unique and detailed knowledge” of the projects, having been involved in their original development and construction.
Vitol’s agreement with Exus brings their partnership to almost 500MW of combined wind assets in the US, following the 240MW Big Sky Wind farm repowering and management deal in Illinois; that arrangement commenced in 2021.
Dhaval Bhalodia, partner and head of asset management North America at Exus, said: “Our ethos is to always deliver highest-grade work on or before deadline, and above expectation, and we are delighted to see our partnership with Vitol continue to mature within that framework.
“It’s an exciting time within the industry, and we look forward to continuing to offer our support to Vitol, a significant player in the ambitious and energetic drive towards a cleaner future.”
Vitol head of renewables Andrew de Pass added: “Collaborating with Exus in the field of renewable asset management is a significant opportunity for both businesses. After successfully working together on our Big Sky project, we value the experience, expertise and added value Exus is able to deliver across our renewables portfolio.”