RES enters 150 MW wind power agreement with AECC

Source:RES Americas

RES Americas has reached a long-term agreement to sell 150 MW of wind energy to Arkansas Electric Cooperative Corporation (AECC). RES Americas subsidiary, RES America Developments Inc., has reached a long-term agreement to sell 150 megawatts (MW) of wind energy to Arkansas Electric Cooperative Corporation (AECC).

The wind power will be sourced from the Origin Wind Energy project, which is located in Murray and Carter Counties in southeast Oklahoma. RES Americas developed and will construct the 75-turbine project, which is scheduled to begin commercial operation by Dec. 31, 2014. AECC will be the sole recipient of the electricity generated.

"We are delighted to work with AECC," said Tom Hiester, Senior Vice President of Development with RES Americas. "This purchase demonstrates AECC's forward-looking approach to diversifying their portfolio, as well as their understanding of the economic benefits that long-term, low-priced wind energy contracts offer to their members."

"The latest addition of 150 megawatts of low-cost wind energy provides AECC with a hedge against fluctuating natural gas energy prices," said Duane Highley, president and chief executive officer of AECC, a Little Rock-based wholesale electricity supplier. "AECC will have 201 megawatts of wind energy in its generation assets with this addition. We will continue to pursue energy options that allow AECC's member cooperatives to provide reliable electricity at the lowest possible cost."

AECC's agreement was made possible through the National Renewables Cooperative Organization (NRCO), which enables cooperatives nationwide to pool the ownership and benefits of renewable resources.

For the most up to date and in-depth information on the Wind Generation market visit PennEnergy's comprehensive Research area to access industry focused Reports.

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