Farming the Wind

( 0 Votes )

Friday, 27 August 2010 17:36

Bliss, Idaho, August 2010 — Transforming arid farmland into land-yielding clean power and jobs, Idaho Governor C.L. “Butch” Otter joined executives of GE and its partners recently to celebrate the start of construction of the state’s largest wind power project, 8 miles from the Oregon Trail where American pioneers pushed westward across the continent. The governor – joined by project investors GE Energy Financial Services, Reunion Power, Exergy Development Group and Atlantic Power Corporation – signed a turbine blade in Bliss to celebrate the new jobs and economic development this project is bringing to the area. The 183-megawatt, 122-turbine project comprises 11 wind farms, spread across 10,000 acres of active and inactive farmland in southern Idaho’s Magic Valley. The valley was a predominant migration route as part of the Oregon Trail in the 19th century, and is becoming a critical renewable energy corridor in the 21st century. The wind energy project, initiated by Exergy Development Group and slated for completion by year’s end, is expected to create 175 construction jobs as well as permanent employment for operations and maintenance. In addition to the people employed directly, a National Renewable Energy Laboratory model estimates that a wind project of this size would typically support the equivalent of 2,200 full-time jobs in the United States for one year—about half of which would be in-state—and create 25 permanent jobs. The project also benefits the environment: It will produce enough power for 39,700 average Idaho homes and—according to US Environmental Protection Agency methodology—avoid 331,000 short tons a year in greenhouse gas emissions. That’s the equivalent of taking about 57,000 cars off the road. GE Energy Financial Services, Atlantic Power, and project developer Exergy own non-managing member equity interests in the nearly $500 million Idaho Wind project. Reunion Power holds the managing member equity interest and serves as the project’s manager. The wind farms will sell all of their power to Idaho Power Company under 20-year agreements. Once completed, the portfolio is expected to qualify for the federal Treasury Grant program designed to stimulate renewable energy projects. Construction of the Idaho project is well under way. Workers are delivering wind turbine blades, towers and other components; they are installing foundations and footings for the turbine towers, building access roads, preparing interconnection lines with Idaho Power’s grid and readying a site for a new power substation. The project will use GE’s 1.5-megawatt turbines, over 13,500 of which have been installed worldwide. In addition to supplying the turbines, GE will provide operational and maintenance services. GE Energy Financial Services’ experts invest globally across the capital spectrum in essential, long-lived and capital-intensive energy assets that meet the world’s energy needs. In addition to capital, GE Energy Financial Services offers technical know-how, technology innovation, financial strength and rigorous risk management. Based in Stamford, Connecticut, the GE business unit helps its customers and GE grow through new investments, strong partnerships and optimization of its $21 billion in assets. For more information, visit www.geenergyfinancialservices.com. GE is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com. Reunion Power LLC, a privately owned company, provides project development and asset management services along with a thorough understanding of how to build and manage a successful project. Reunion began operations in 2000 and its management team combines over 100 years of development, engineering, and financial management experience in clean energy markets. Reunion’s hands-on experience in wind power commenced in 2002. For more information, visit the company's Web site at www.reunionpower.com. Exergy Development Group is a major U.S. independent renewable energy developer. Exergy’s focus is on deploying commercially successful, socially beneficial and environmentally responsible renewable energy projects. Exergy has assembled a renewables projects queue of over 4,000 MW across the Western and Midwestern United States. Exergy believes that sustainable economic prosperity is inextricably tied to the well being of our communities and natural environment. For more information, visit www.exergydevelopment.com Atlantic Power Corporation is an independent power producer, with power projects located in major markets in the United States. Their current portfolio consists of interests in 12 operational power generation projects across eight states, one wind project under construction in Idaho, a 500 kilovolt 84-mile electric transmission line located in California, and six development projects in five states. Their power generation projects in operation have an aggregate gross electric generation capacity of approximately 1,823 MW, in which our ownership interest is approximately 808 MW. SOURCE: Companies Noted < Prev   Next >