SDGE reduces investment in wind power project

San Diego Gas & Electric signed an agreement with wind farm developer NaturEner to finance $250 million of a $700 million, 309 MW wind farm proposed in Montana.

SDG&E’s original investment in the Rim Rock wind farm was $600 million. Its investment was reduced to $250 million to lower the amount of tax credits the utility can obtain from the project. NaturEner has invested $60 million into the wind project.

Additionally, shareholders of Sempra Energy, the parent company of SDG&E, also agreed to provide an additional 10 percent of the cost of constructing 189 MW of the project.

The California Public Utilities Commission must approve the deal along with the Federal Energy Regulatory Commission before construction can begin.

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