Jun 24 2015
EDF Renewable Energy (EDF RE) today announced the acquisition of the up to 200 megawatt (MW) Salt Fork Wind Project from Cielo Wind Power LP (Cielo).
Today’s achievement comes as a result of 18 months of close collaboration between the two companies to bring about the close of the acquisition transaction and the Power Purchase Agreement (PPA) with Garland Power & Light (GP&L).
Salt Fork is located in the Texas Panhandle on approximately 16,700 acres in Donley and Gray Counties, Texas, roughly 45 miles east of Amarillo. The project is expected to achieve commercial operation by the end of 2016, utilizing ERCOT’s (Electricity Reliability Council of Texas) CREZ (Competitive Renewable Energy Zone) transmission infrastructure.
The clean electricity and renewable energy credits (RECs) generated by 150 MW of the Salt Fork Wind Project will be provided to Garland Power & Light under a long-term Power Purchase Agreement. This agreement follows the PPA the municipal utility signed in early 2014 for a portion of the electricity generated by EDF RE’s Spinning Spur 3 Wind Project.
“We are pleased to expand our relationship with Garland Power & Light to include the Salt Fork Wind Project, building upon the Spinning Spur 3 Wind Project, which is presently under construction and expected to be completed later this year,” commented Ryan Pfaff, Executive Vice President at EDF Renewable Energy. ”The diligent collaboration between Cielo and EDF Renewable Energy demonstrates the value of long-term relationships; Salt Fork represents the third wind project we have successfully acquired from Cielo in late-stage development.”
“Our investment in wind helps to diversify GP&L’s energy portfolio while mitigating risk of volatile fuel prices. With this agreement, we will add another clean resource to the power supply mix that will benefit our customers for years to come,” said Jeff Janke, General Manager of Garland Power & Light. “We are pleased to once again do business with EDF Renewable Energy.”
Since first entering the Texas market in late 2011, EDF Renewable Energy has commissioned 872 MW of wind energy capacity. The Salt Fork acquisition increases the Texas portfolio to 1.2 GW operating, under construction or in development.
Source: http://www.edf-re.com/