Sempra Generation, a subsidiary of Sempra Energy (NYSE:SRE), announced it has become an equal partner with BP Wind Energy, a wholly owned subsidiary of BP (NYSE:BP), in the development of the 200-megawatt (MW) Fowler Ridge II Wind Farm in Benton County, Ind.
Financial terms were not disclosed.
The Fowler Ridge II Wind Farm joint venture currently is under construction on a 17,000-acre site about 90 miles northwest of Indianapolis and is expected to be operational in1Q10. The 200-MW facility will produce enough electricity for approximately 60,000 homes.
The project’s entire power output already has been sold under four, long-term 50-MW contracts. Three contracts were signed with units of American Electric Power (NYSE: AEP) and, one, with Vectren Energy Delivery of Indiana for terms of 20 years each. The project will use 133 wind turbines, each with the ability to generate 1.5 MW.
The Fowler Ridge II development is an expansion of Fowler Ridge I, a 400-MW wind farm that commenced operations in March 2009. Combined, the two projects will comprise the Midwest’s largest wind farm, generating 600 MW, or enough clean energy to power about 180,000 homes.
"Fowler Ridge II will be our first operating wind-farm investment and expands our portfolio of renewable-energy assets," said Michael Allman, president and CEO of Sempra Generation.
In 2008, Sempra Generation completed the construction of North America’s largest thin-film solar power plant, El Dorado Solar. The plant is located near Las Vegas and is capable of generating 10 MW of solar energy. El Dorado Solar’s output is fully contracted with Pacific Gas & Electric (PG&E) for 20 years. An additional 48 MW of solar power is proposed adjacent to the El Dorado Solar site; PG&E also has contracted to purchase the output for 20 years. That contract is pending approval by the California Public Utilities Commission.
Sempra Generation operates and maintains a fleet of clean, efficient natural gas fueled power plants serving the U.S. market and is in the process of developing a solar and wind power projects in the Pacific Southwest.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2008 revenues of nearly $11 billion.
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