PPM secures 300 MW of new wind turbines
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September 14, 2005
PORTLAND, Ore. — PPM Energy, ScottishPower's (NYSE: SPI) competitive US energy business, today announced that it has agreed to purchase 300 megawatts (MW) of wind turbines from GE Energy for use in projects in late stage development expected to be built during calendar 2006.
"This turbine order for 2006 delivery, coupled with options and other pending turbine arrangements, will enable PPM Energy to continue to grow its profitable wind business at a similar rate as in the past," said Terry Hudgens, PPM Energy CEO.
In August, PPM Energy completed construction ahead of schedule on its 75-megawatt Klondike II Wind Power Plant near Wasco, Ore. Portland General Electric (PGE) has a 30-year agreement with PPM Energy to purchase all of Klondike II's wind capacity to serve PGE customers beginning in December 2005.
PPM Energy also expects this year to complete four other wind power projects Ğ the 100 MW Trimont project in Minnesota, the 150 MW Elk River project in Kansas, the 150 MW Shiloh project in California and the 198 MW Maple Ridge project in New York that PPM is building as a joint venture with Horizon Wind Energy, a unit of Goldman Sachs.
About PPM Energy
PPM Energy controls about 830 MW of wind energy currently operating in seven states and has announced a total of 574 MW of additional wind projects to be built in 2005. It now has around 1,400 MW of wind energy under its control, well on target toward its goal of at least 2,300 MW online by 2010. PPM Energy balances its supply portfolio with sales to wholesale customers, placing almost all of its output in long-term contracts.
Major customers include the cities of Seattle, Sacramento, Pasadena, Anaheim as well as investor-owned utilities such as Alliant Energy and Xcel Energy and the federal Bonneville Power Administration. PPM Energy also has about 800 MW of clean gas resources under its control to give customers a wide range of options for adding environmentally responsible energy to their portfolios. The U.S. Environmental Protection Agency, the U.S. Department of Energy, and the Center for Resource Solutions honored PPM Energy recently for significantly advancing development of the green power market.