Wind energy project signs power purchase agreement

The Michigan Public Service Commission approved a $485 million contract for DTE Energy (NYSE: DTE) to buy 120 MW of energy from a wind farm.

The 20-year power purchase agreement with Tuscola Bay Wind LLC puts DTE halfway toward the company’s goal of 1,000 MW of renewable energy capacity by 2015.

The project will be owned by NextEra Energy Resources and is expected to be operational by 2012. Construction is expected to begin in 2012 and take six to nine months.

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