PGE to co-own 311-MW wind farm in Montana with NextEra units
Image by: NextEra Energy Resources LLC.
US utility Portland General Electric (NYSE:POR), or PGE, plans to invest USD 415 million (EUR 416.2m) to buy a portion of what will become a 750-MW wind power complex proposed by NextEra Energy Resources LLC in eastern Montana.
Oregon-based PGE has sealed a deal with the unit of NextEra Energy to invest in a 311-MW project that will form part of the Clearwater wind development. The arrangements will give PGE ownership of 208 MW of the planned capacity, it said earlier this week.
Subsidiaries of NextEra Energy Resources will own the remaining 103 MW of the proposed wind park and will be in charge of its design, construction and operation. Additionally, they will sell the electricity from their portion to PGE under a 30-year power off-take deal.
The 311-MW wind farm is planned to commence operations at the end of December 2023.
PGE selected the Clearwater project as part of a competitive bidding process held last year. The agreements with NextEra Energy Resources will undergo prudency review by the Oregon Public Utility Commission (OPUC),
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.