Press Releases
10/31/2019
PPM Announces 175 MW of New Wind, More to Come
PPM Announces 175 MW of New Wind, More to Come
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October 5, 2004
PORTLAND, Ore. – PPM Energy, the U.S. competitive subsidiary of ScottishPower, today announced it will build two new windfarms generating a combined 175 megawatts (MW) following yesterday’s signing by Pres. George Bush into law of the Production Tax Credit.
The fully permitted projects, the 75 MW Klondike II wind project in Sherman County, Oregon and the 100 MW Trimont Wind project in southwestern Minnesota, are expected to be operational by 2005. The capital invested in these two projects is expected to be approximately $200 million.
Another 200 MW of PPM wind development are at late-stage development with further announcements expected shortly.
PPM has signed a 15-year power purchase agreement with Great River Energy, an electric cooperative, for all output from the Trimont facility. Energy from Klondike II is expected to be sold under long-term agreement currently under negotiation. PPM balances its supply portfolio with sales to wholesale customers, with more than 80 percent of the company’s existing wind resource sold under long-term contracts.
PPM already controls 830 MW of wind energy currently in operation in seven states. With the addition of these new and pending projects, that number will swell to more than 1,200 MW by the end of 2005, well on target toward PPM’s goal of at least 2,000 MW online by 2010.
“We welcome the approval of the Production Tax Credit,” said Terry Hudgens, chief executive officer of PPM. “This legislative action will further boost PPM’s strong development, construction and energy supply options to meet customer demand for renewable energy throughout the country. We are optimistic about the prospects for further substantial wind farm development in the coming year.”
Contact:
Art Sasse, Director, Communications & Brand, Iberdrola Renewables, 503-796-7740
Paul Copleman, Media Relations, Iberdrola Renewables, 207-641-2805
About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $44 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital in 2021, 2022, 2023 and 2024 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.
About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.
With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.
