Geronimo Energy seals 400 MW of wind PPAs with Xcel
Jul 17, 2013 - US wind power developer Geronimo Energy said Tuesday it had inked wind energy purchase agreements with US utility Xcel Energy (NYSE:XEL) for 400 MW of wind power capacity in North Dakota and Minnesota.
The two long-term deals are for two 125-turbine projects, each of 200 MW in capacity or enough to power 60,000 homes. In a separate statement today, Xcel said it was seeking regulatory approval to add to its US Upper Midwest portfolio these two wind farms plus one more 200-MW Minnesotta wind scheme.
The Courtenay facility in North Dakota is to bring annual tax revenues of USD 850,000 (EUR 647,000), Geronimo said. The Odell wind farm in Minnesota is estimated to fetch tax income of USD 840,000.
According to Dave Sparby, president and CEO of Xcel Energy's unit Northern State Power Co, these wind power purchase agreements (PPAs) will help cut the electricity bills of its clients, protect them against the increasing fuel costs and offer considerable environmental benefits. Xcel Energy aims to cut its carbon footprint in the Upper Midwest region by 30% by 2020 as compared to 2005 levels, it noted.