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10/31/2019

PPM secures 300 MW of new wind turbines

PPM secures 300 MW of new wind turbines

Click Here  for a PDF version of this press release.

September 14, 2005

PORTLAND, Ore. — PPM Energy, ScottishPower's (NYSE: SPI) competitive US energy business, today announced that it has agreed to purchase 300 megawatts (MW) of wind turbines from GE Energy for use in projects in late stage development expected to be built during calendar 2006.

"This turbine order for 2006 delivery, coupled with options and other pending turbine arrangements, will enable PPM Energy to continue to grow its profitable wind business at a similar rate as in the past," said Terry Hudgens, PPM Energy CEO.

In August, PPM Energy completed construction ahead of schedule on its 75-megawatt Klondike II Wind Power Plant near Wasco, Ore. Portland General Electric (PGE) has a 30-year agreement with PPM Energy to purchase all of Klondike II's wind capacity to serve PGE customers beginning in December 2005.

PPM Energy also expects this year to complete four other wind power projects Ğ the 100 MW Trimont project in Minnesota, the 150 MW Elk River project in Kansas, the 150 MW Shiloh project in California and the 198 MW Maple Ridge project in New York that PPM is building as a joint venture with Horizon Wind Energy, a unit of Goldman Sachs.

About PPM Energy

PPM Energy controls about 830 MW of wind energy currently operating in seven states and has announced a total of 574 MW of additional wind projects to be built in 2005. It now has around 1,400 MW of wind energy under its control, well on target toward its goal of at least 2,300 MW online by 2010. PPM Energy balances its supply portfolio with sales to wholesale customers, placing almost all of its output in long-term contracts.

Major customers include the cities of Seattle, Sacramento, Pasadena, Anaheim as well as investor-owned utilities such as Alliant Energy and Xcel Energy and the federal Bonneville Power Administration. PPM Energy also has about 800 MW of clean gas resources under its control to give customers a wide range of options for adding environmentally responsible energy to their portfolios. The U.S. Environmental Protection Agency, the U.S. Department of Energy, and the Center for Resource Solutions honored PPM Energy recently for significantly advancing development of the green power market.

About Avangrid

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.

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