Iberdrola Renewables helps STEC double its wind power
South Texas Electric Cooperative now getting more than 10 percent of its energy needs from clean, homegrown electric generation
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May 10, 2011
PORTLAND, Ore. — Iberdrola Renewables has extended and expanded an existing power purchase agreement (PPA) with South Texas Electric Cooperative (STEC), the wholesale power provider to eight Texas electric cooperatives.
STEC will expand its existing 50 megawatt (MW) contract with Portland, Oregon-based Iberdrola Renewables to 100.8 MW and extend it to May 31, 2026.
“This continued and expanded PPA puts STEC in an even better position to provide clean, renewable wind energy to its members,” said Michael Packard, STEC’s general manager. “With this expanded PPA, STEC now gets more than 10 percent of its energy from carbon-neutral renewable generation.”
“Iberdrola Renewables is pleased STEC has become a repeat customer,” said Barrett Stambler, vice president of origination for Iberdrola Renewables. “The expanded contract highlights Iberdrola Renewables’ ongoing success with public power customers and the ongoing demand for cost-effective renewable power. Renewables continue to be an excellent hedge against fuel price volatility.”
The power from the contract comes from the Peñascal Wind Power Project located in Kenedy County, Texas. An original customer of the Peñascal project, STEC has been taking deliveries from the 201.6 MW project since May 19, 2009.
About Iberdrola Renewables:
Iberdrola Renewables, Inc. is headquartered in Portland, Ore, with more than 850 employees at the end of 2010. It is part of the Iberdrola Renovables global group, the world’s leading provider of wind power with more than 12,000 megawatts of renewable energy in operation around the world, and more than 4,600 megawatts of that wind power located in the U.S. www.iberdrolarenewables.us
South Texas Electric Cooperative was formed in 1944 to provide wholesale electric power to member cooperatives. Presently the South Texas Electric Cooperative serves eight distribution cooperatives: Karnes, Wharton County, Victoria, Jackson, San Patricio, Nueces, Magic Valley and Medina electric cooperatives. These cooperatives provide service to over 170,000 members in 65 South Texas counties.
Art Sasse, Director, Communications & Brand, Iberdrola Renewables, 503-796-7740
Paul Copleman, Media Relations, Iberdrola Renewables, 207-641-2805
Shayne Dixon, South Texas Electric Coop, 361-485-6169