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Wind farm power control can help the system maintain balance and avoid blackouts. In Europe, this can be achieved through implicit balancing, where a wind farm adjusts its power setpoint in anticipation of the imbalance price using information published by the Transmission System Operator. Thereby, the wind farm helps restore system balance while also reducing its own imbalance costs resulting from forecast errors. However, implicit balancing is a challenging problem since the settlement price is unknown in advance and can be impacted by the pursued control strategy. Reinforcement learning methods could help to solve this problem, but lack the interpretability needed to be deployed on real wind farms. Therefore, we propose a policy distillation framework using explainable boosting machines (EBMs), a variant of generalized additive models, to obtain a transparent control policy. To increase the value captured by the EBM model, we introduce a value-oriented perspective to policy distillation inspired by research in the field of energy forecasting. Furthermore, we suggest to include expert knowledge during model design, such that the control strategy is also justifiable to stakeholders. Using real data of the Belgian grid and an offshore wind farm, we find that our value-oriented and expert-based controller can reduce imbalance costs by 82%, while outperforming a price threshold controller as well as a policy distillation baseline using decision trees.