PPM Buys Klondike Plant from Northwestern Wind Power
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PORTLAND, Ore. – PPM Energy, Inc. (PPM), ScottishPower’s (NYSE: SPI) competitive US energy business, has acquired the one-year-old Klondike Wind Power Plant in Oregon for $16.8 million. The acquisition from Northwestern Wind Power represents PPM’s first purchase of an operating wind plant.
All energy output and green tags from the 24-megawatt Klondike plant, located in Sherman County, have been sold through a 20-year power purchase agreement with the Bonneville Power Administration (BPA). Green tags or "green certificates" represent the environmental attributes associated with electricity generation from new renewable technologies such as wind energy.
“We’re pleased to announce this successful transaction with Northwestern Wind Power and to expand our excellent relationship with BPA,” said PPM CEO Terry Hudgens. BPA is buying the 24-megawatt output of the Klondike plant and last year, purchased 90 megawatts of wind power from PPM through the Stateline Wind Energy Center near Walla Walla, Wash.
"PPM has been an excellent business partner and we are pleased to be doing more business with them, " said Steve Wright BPA Administrator. "Along with maintaining this contract, the sale to PPM may help Golden Northwest's aluminum operations during very difficult times for the metals industry."
“Klondike is a wonderful renewable resource originally developed to help Golden Northwest Aluminum obtain a diversified power supply," said Brett Wilcox, owner of Northwestern Wind Power and Golden Northwest Aluminum. "Our successful sale of this wind project helps ensure continued operations at Golden Northwest and our ability to develop our other wind powered and gas-fired generating resources."
Klondike entered commercial operations in December 2001 using 16 state-of-the-art GE 1.5-megawatt turbines. These are the same types of turbines PPM has ordered for use at its proposed 50-megawatt Moraine Wind Power Project in Minnesota.
The Klondike acquisition fits PPM’s strategy of disciplined growth, bringing its operating wind portfolio to 324 megawatts, with about 200 more megawatts in active development through the proposed High Winds and Moraine wind projects in California and Minnesota. PPM also has about 800 megawatts of clean gas resources under its control to give customers a wide range of options for adding environmentally responsible energy to their portfolios.
Art Sasse, Director, Communications & Brand, Iberdrola Renewables, 503-796-7740
Paul Copleman, Media Relations, Iberdrola Renewables, 207-641-2805
Brett Wilcox, Northwestern Wind Power, (541) 298-0814