A 25-year, $675 million contract between Austin Energy and Duke Energy Renewables won approval from Austin City Council. Under the deal, which has yet to be signed, Texas-based Austin Energy will buy and distribute power from the 200 MW second phase of a 400 MW wind farm Duke is building in West Texas.
Original estimates put the contract value at up to $820 million, the Triangle Business Journal reported. Duke reprotedly reduced the farm's total projected output after making final decisions on equipment purchases and refining power production calculations.
Duke earlier said it would build a 200 MW first phase at Los Vientos. Power from that project will be sold to CPS Energy, San Antonio's municipal utility.
Duke Renewables expects to finish work on both phases by the end of the year.
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