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10/31/2019

SRP Buys Entire Output of Iberdrola Renewables' Dry Lake 2 Wind Power Project

SRP Buys Entire Output of Iberdrola Renewables' Dry Lake 2 Wind Power Project

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March 18, 2010

PORTLAND, Ore. — Iberdrola Renewables and Salt River Project (SRP) today announced SRP has agreed to purchase the entire output of Phase 2 of the Dry Lake Wind Power Project in northern Arizona for a 20-year term.

When permitted, the Dry Lake 2 Wind Project will be located approximately seven miles northwest of Snowflake on a combination of private and state lands. The project will be just west of Arizona State Highway 77 three miles east of Dry Lake 1, south of Holbrook and the I-40 corridor.

"SRP has greatly enjoyed working with Iberdrola Renewables at Dry Lake 1, Arizona's first commercial-sized wind energy project," said SRP General Manager Richard Silverman. "Adding additional wind energy to our resource mix will provide more clean energy for our customers while at the same time helping to increase the overall renewable energy supply in Arizona."

Dry Lake's Phase 2 will use up to 31 Suzlon wind turbines and is expected to generate up to 65 megawatts (MW) of electricity. Typically, a wind farm of this size will provide clean, renewable electricity to more than 9,100 typical homes in SRP's service territory. The estimated environmental benefits of the project will result in the annual offset of more than 176 million pounds of carbon dioxide, which is equivalent to removing 15,000 cars from the road.

"We are very pleased to enter this second power purchase agreement with SRP and to be permitting a second phase of the Dry Lake Project," said Martin Mugica, executive vice president for Iberdrola Renewables. "We are happy to help meet Arizona's growing demand for electricity — especially clean, renewable, homegrown power."

The nine-to-12-month construction period of Dry Lake 2 is expected to create construction and engineering jobs for as many as 200 workers and approximately five permanent operations and maintenance staff.

Like Dry Lake 1, the Dry Lake 2 project would support the local economy with property tax payments expected to be in the millions of dollars over the life of the project. The property taxes will support schools, public health, fire, library and other necessary services in Navajo County.

Iberdrola Renewables, Inc., headquartered in Portland, Oregon, has installed more than 3,500 MW of wind power in the US. It is part of Iberdrola Renovables, the largest provider of wind power in the world*, with more than 10,000 MW in operation in 23 countries. Iberdrola Renewables employs more than 830 people in the U.S.

Salt River Project is the third-largest public power utility in the country and serves more than 935,000 electric customers in the Phoenix metropolitan area through a variety of resources including solar, wind, biomass, geothermal and hydroelectricity.

Contact:
Art Sasse, Director, Communications & Brand, Iberdrola Renewables, 503-796-7740
Paul Copleman, Media Relations, Iberdrola Renewables, 207-641-2805
Patty Garcia-Likens, SRP, 602.236.2500

 

www.iberdrolarenewables.us

www.srpnet.com

*Source: New Energy Finance.

 

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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