sPower, a renewable energy provider based in Salt Lake City, Utah, acquired its first wind power project, a 62.1 MW facility in Monticello, Utah.
The project, located in San Juan County in Southeastern Utah, is scheduled to begin construction this summer and should start generating clean energy at the end of 2015. The project has a 20-year power purchase agreement with PacifiCorp, which does business as Rocky Mountain Power in Utah.
When fully operational, the wind farm is expected to reduce carbon emissions by about 103,800 metric tons annually — the equivalent of removing nearly 22,000 cars from the road each year or reducing carbon dioxide emissions from 241,000 barrels of oil consumed.
Headquartered in Salt Lake City, with offices in San Francisco and New York City, sPower is an independent power producer (IPP) that owns and/or operates more than 150 utility and commercial distributed electrical generation systems across the U.S. and U.K.
With greater than 1.7 GW between construction and pipeline, sPower is actively buying select renewable assets in virtually any stage of development in North America and the U.K. sPower is a portfolio company of Fir Tree Partners, a global investment fund with more than 20 years of investing history and about $13 billion of capital under management.