The Goodwell Wind Project in Texas County will be TradeWind’s Third Project in Oklahoma, and Brings the Clean-Energy Developer’s Total Sooner-state output to 585 MW
Lenexa, Kan. (October 10, 2013) –Tradewind Energy, Inc. and Public Service Company of Oklahoma, a subsidiary of American Electric Power (NYSE: AEP), announced Thursday the companies have entered into a long-term power purchase agreement for the delivery of low-cost electricity from the Goodwell Wind Project in the Oklahoma Panhandle.
The 20-year deal will provide 200 MW of capacity, or enough energy to power approximately 60,000 homes. It will be constructed across approximately 20,000 acres in Texas County and involve about 30 landowners.
Tradewind executives praised lawmakers and officials in Oklahoma for creating an attractive environment for business investment in the state.
“Oklahoma’s natural resources and the leadership of lawmakers have made it an ideal state for wind-energy investment,” Tradewind CEO Rob Freeman said. “Oklahoma’s thoughtful policies have helped encourage development of a resource that is mutually beneficial to ratepayers, local communities and the environment.”
Goodwell will be TradeWind’s third project constructed in Oklahoma and will mean the company will have completed 585MW in the state. With a target commercial operation date of late 2015, Goodwell follows the Rocky Ridge Wind Project near Hobart and the Chisholm View Wind Project near Enid, both now owned and operated by TradeWind’s partner, Enel Green Power North America.
The Goodwell project site was initially developed by Chermac Energy Corporation of Edmond, Okla. before being purchased by TradeWind.
The latest agreement serves as one more demonstration of how utility companies recognize wind power in the Great Plains as a valuable part of their generation portfolios.
“Wind energy provides low-cost power at a fixed-price and gives utilities stability against fuel volatility,” TradeWind’s Chief Operating Officer Geoff Coventry said. “We’re pleased to demonstrate again that wind energy is lowering the cost of power for businesses and consumers.”
The Goodwell purchase agreement was one of three wind power agreements Public Service Company of Oklahoma (PSO) announced on Thursday.
“With these long-term power purchase agreements we’re adding a significant amount of Oklahoma wind energy, bringing more diversity to our fuel mix, and doing so at a price that will provide substantial savings for our customers,” said Stuart Solomon, PSO president and chief operating officer.
Thursday’s announcement comes as Tradewind is celebrating two significant milestones. Earlier this week, the company announced the installation of a total of one gigawatt of energy just as it marked its 10-year anniversary.
ABOUT TRADEWIND ENERGY
Tradewind Energy, Inc. is one of the largest independent wind and solar project development companies in the U.S. Founded in 2003, the company has earned a reputation for its innovation in the market, its highly skilled and passionate team, and for its respect for the people and communities where it develops projects. Tradewind was honored with the Kansas Governor’s Energy Achievement Award and was bestowed the national Outstanding Commercial Achievement Award by the American Wind Energy Association. The company’s founders were 2013 finalists for the EY Entrepreneur of the Year award.
TradeWind takes great pride in its demonstrated ability to deliver low-cost wind and solar energy to diverse markets while maintaining an uncompromising commitment to long-term project quality. To date, TradeWind has completed one gigawatt of installed wind capacity, representing $1.7 billion of capital invested, and is rapidly expanding its solar development portfolio. The company is actively developing about 3,000 MW of wind and solar energy projects in multiple states across the U.S. For more information, visit www.tradewindenergy.com.
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