in News Departments > New & Noteworthy
print the content item

Citing "extraordinary pricing opportunities," Public Service Co. of Oklahoma (PSO) has decided to enter deals for 600 MW of wind power, even though the utility had originally only sought 200 MW.

PSO says it signed 20-year renewable energy purchase agreements (REPAs) for a total 598.7 MW from three wind projects currently under development in Oklahoma. If approved by regulators, the contracts would provide PSO with energy beginning Jan. 1, 2016.

The new REPAs are a result of a request for proposals issued June 10, 2013, through which PSO sought long-term purchases of up to 200 MW of new wind. The utility says it decided to contract for an additional 400 MW because of low prices, and the company expects it could save an estimated $53 million in the first year of the contracts. To boot, annual savings are anticipated to grow each year over the lives of the deals.

“With these long-term power purchase agreements, we’re adding a significant amount of Oklahoma wind energy, bringing more diversity to our fuel mix, and doing so at a price that will provide substantial savings for our customers,” says Stuart Solomon, PSO president and chief operating officer.

When deliveries of energy from the three new REPAs commence in 2016, PSO, a subsidiary of American Electric Power, will have a total 1,137 MW of wind under contract. The new series of 20-year agreements includes the following:

- 198.9 MW from Seiling Wind LLC, owned by NextEra Energy Resources and
located in Dewey County;

- 200 MW from the Goodwell Wind Project LLC, owned by TradeWind Energy and
located in Texas County; and

- 199.8 MW from Apex Clean Energy’s 300 MW Balko Wind project, located in Beaver County. According to Apex, the development and construction of the Balko project will provide an estimated $430 million investment in the region, and the wind farm is expected to come online in 2015.






Trachte Inc._id1770
Latest Top Stories

Wind Energy Dominates New U.S. Power In October

Data from the Federal Energy Regulatory Commission shows that wind power accounted for over two-thirds of the country's new electricity generating capacity in last month.


Are Fitch Ratings' Claims About Wind Farm Underperformance Unfounded?

A recent report from Fitch Ratings suggests that wind farms underperform due to an overestimation of wind resources, but AWS Truepower says the analysis misses the mark.


SunEdison Buying First Wind In $2.4 Billion Deal

Global solar company SunEdison and its yeildco have announced an agreement to buy the Boston-based developer, a major player in the U.S. wind industry.


U.S., China Reach Ambitious Climate Change Accord

The agreement between the global superpowers leans heavily on the deployment of renewable energy, such as wind and solar.


What The Midterm Elections Mean For The U.S. Wind Industry

Both chambers of Congress are now under Republican control for the first time since 2006. How will wind energy fare?

Renewable NRG_id1934
Hybrid Energy Innovations 2015