July 19 (Renewables Now) - DTE Energy Co (NYSE:DTE) has received regulatory clearance to proceed with the proposed acquisition of a 455-MW wind project portfolio in Michigan, the US utility said on Thursday.
With approval from the Michigan Public Service Commission (MPSC) secured, DTE will buy, own and operate three wind parks upon their completion in the last quarter of 2020. The consent, however, is conditional on DTE agreeing to changes the Commission has made to its renewable energy plan, or, if that is not possible, the submission of a revised plan.
More specifically, DTE will acquire the 72-MW Fairbanks wind park in Delta County from Heritage Sustainable Energy and the Isabella I & Isabella II projects totalling 383 MW in Isabella County. The larger portfolio is owned by Apex Clean Energy, which plans to start building the two plants later this year.
Once commissioned, the new power plants will generate enough electricity to supply 107,000 households. DTE will use the output of at least two of them to meet demand for renewables from some of its largest commercial and industrial clients, among which is Ford Motor Co (NYSE:F), General Motors (NYSE:GM) and the University of Michigan.
The acquisition is in line with the utility’s commitment to cut its carbon dioxide (CO2) emissions by 80% by 2040. DTE intends to invest about USD 2 billion in support of the goal over the next five years, it said.