Press Releases
10/31/2019
PPM Buys Klondike Plant from Northwestern Wind Power
PPM Buys Klondike Plant from Northwestern Wind Power
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PORTLAND, Ore. – PPM Energy, Inc. (PPM), ScottishPower’s (NYSE: SPI) competitive US energy business, has acquired the one-year-old Klondike Wind Power Plant in Oregon for $16.8 million. The acquisition from Northwestern Wind Power represents PPM’s first purchase of an operating wind plant.
All energy output and green tags from the 24-megawatt Klondike plant, located in Sherman County, have been sold through a 20-year power purchase agreement with the Bonneville Power Administration (BPA). Green tags or "green certificates" represent the environmental attributes associated with electricity generation from new renewable technologies such as wind energy.
“We’re pleased to announce this successful transaction with Northwestern Wind Power and to expand our excellent relationship with BPA,” said PPM CEO Terry Hudgens. BPA is buying the 24-megawatt output of the Klondike plant and last year, purchased 90 megawatts of wind power from PPM through the Stateline Wind Energy Center near Walla Walla, Wash.
"PPM has been an excellent business partner and we are pleased to be doing more business with them, " said Steve Wright BPA Administrator. "Along with maintaining this contract, the sale to PPM may help Golden Northwest's aluminum operations during very difficult times for the metals industry."
“Klondike is a wonderful renewable resource originally developed to help Golden Northwest Aluminum obtain a diversified power supply," said Brett Wilcox, owner of Northwestern Wind Power and Golden Northwest Aluminum. "Our successful sale of this wind project helps ensure continued operations at Golden Northwest and our ability to develop our other wind powered and gas-fired generating resources."
Klondike entered commercial operations in December 2001 using 16 state-of-the-art GE 1.5-megawatt turbines. These are the same types of turbines PPM has ordered for use at its proposed 50-megawatt Moraine Wind Power Project in Minnesota.
The Klondike acquisition fits PPM’s strategy of disciplined growth, bringing its operating wind portfolio to 324 megawatts, with about 200 more megawatts in active development through the proposed High Winds and Moraine wind projects in California and Minnesota. PPM also has about 800 megawatts of clean gas resources under its control to give customers a wide range of options for adding environmentally responsible energy to their portfolios.
Contact:
Art Sasse, Director, Communications & Brand, Iberdrola Renewables, 503-796-7740
Paul Copleman, Media Relations, Iberdrola Renewables, 207-641-2805
Brett Wilcox, Northwestern Wind Power, (541) 298-0814
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.
