Dec 28 2010
Iberdrola Renovables has reportedly contracted more than 700 MW power purchase agreements (PPA) for wind energy products during 2010 and the company is looking forward for possibilities to complete 1,000 MW.
Its auxiliary company in the US has signed a long-term power purchase agreement (PPA) for its wind farm located in New Harvest. The signed accord includes the vending of 75 MW of its total 100 MW power production to Ameren Illinois and Commonwealth Edison for a period of 20 years.
Iberdrola Renovables, considers signing of PPA’s as an important strategy for growth in the USA. The PPAs provides long term benefits for the company such as sale of power and tradable Renewable Energy Certificates (RECs) .The Company has entered into PPA with nearly 80% of its wind farms located in the US with an installed power production capability of around 4,590 MW. The company has contracted accords with nearly 50 local companies which include Wisconsin Energy, We Energies and Salt River Project of Milwaukee and Tennessee Valley Authority (TVA).
In December the company has finished the erection of three new wind farms with a total production capability of 264 MW. The installed wind turbine facilities include Elm Creek II wind farm with a capacity of 149 MW, and Dry Lake II wind farm in Arizona with an installed capability of 65 MW. The company is said to have over 25.000 MW worth of wind power generation capability under pipeline and has received over US$1 billion as stimulus grants.
Source: http://www.iberdrolarenovables.es