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| Posted Apr 11, 2005 PT |
Portland-based company building wind farm in New York State
PPM Energy, a Portland-based company, is expanding into the East Coast with a new wind farm in the state of New York. This wind farm will help New York move toward its goal of filling 25 percent of its energy needs with renewable energy sources. This new wind farm will develop 198 megawatts of power, enough to power approximately 40,000 to 60,000 homes. PPM Energy is has been aggressively expanding into new markets and expects to add 424 megawatts of power to the 830 megawatts it is already generating. PPM is doing this through the project in New York, as well as projects in Oregon, Kansas, and Minnesota.
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Original news summary: (http://www.oregonlive.com/business/oregonian/index.ssf?/base/business/111286780667500.xml)
- Portland-based PPM Energy began construction this week on a wind farm in New York, continuing an aggressive push into East Coast energy markets.
- The project, a joint venture with Zilka Renewable Energy of Houston, Texas, involves 120 Vestas wind turbines with a combined capacity of 198 megawatts, enough to provide electricity to an estimated 40,000 to 60,000 homes.
- Total project costs are estimated at $300 million.
- Each developer will own 50 percent of the venture, dubbed the Maple Ridge Wind Farm.
- The project, scheduled for completion by year-end, would more than quadruple the amount of wind power in New York, where energy policy calls on the state to use renewable resources for 25 percent of its electricity by 2013.
- PPM Energy is an unregulated subsidiary of Glasgow, Scotland-based ScottishPower and has become one of the largest wind providers in the country, second to Florida's FPL Energy.
- It moved into the East Coast market this year with the acquisition of Atlantic Renewable Energy Corp. of Richmond, Va.
- Encouraged by a production tax credit enacted by Congress in October, PPM Energy and other developers of renewable energy are embarking on record numbers of wind projects across the country.
- Since late last year, PPM Energy has announced plans to add 424 megawatts of capacity to its wind portfolio, almost a 50 percent jump from an existing base of 830 megawatts.
- "There's more to come," said company spokeswoman Jan Johnson.
- The company hopes to boast 2,300 megawatts wind power by 2010, Johnson said.
- ScottishPower also owns PacifiCorp, which is headquartered in Portland and operates utilities in six Western states, including Pacific Power, which serves 520,000 customers in Oregon.
- Zilka is developing projects in a dozen states, including Washington.
- Investment bank Goldman Sachs recently announced plans to buy the company.
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