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Saturday, March 07 2009

Evansville-based Vectren Energy Delivery of Indiana is asking the Indiana Utility Regulatory Commission for approval to purchase 50 megawatts of wind energy from the Fowler Ridge wind farm in Benton County. The company says the 20-year power purchase agreement would provide enough energy to power about 15,000 homes annually. Vectren already has a 20-year contract with another independently-owned wind farm in Benton County.

 

Vectren Seeks to Buy More Wind Energy

Evansville, Ind. -- Vectren Energy Delivery of Indiana (Vectren; NYSE: VVC) has filed a request with the Indiana Utility Regulatory Commission seeking authority to buy 50 megawatts (MW) of wind energy from an Indiana wind farm. If approved, the purchase would provide enough energy to power about 15,000 homes annually and will bring Vectren’s total wind power portfolio to 80 MW, which allows Vectren to meet 4 percent of its customers’ needs with renewable energy.

"We continue to look for opportunities to add more green power to our portfolio, especially those sources that represent homegrown, Hoosier energy," said Vectren Chairman and CEO Niel Ellerbrook. "The upcoming expansion of this wind farm provided us the perfect opportunity to sign a long-term deal and bring additional renewable energy to our customers in southwestern Indiana."

Vectren plans to buy approximately 145 million kilowatt hours (kWh) per year of renewable energy from a second phase of the Fowler Ridge wind farm in Benton County, Ind, which is expected to move into construction in the second quarter of 2009.This proposed 20-year power purchase agreement will be the second wind energy contract for Vectren.

The utility signed a 20-year contract in December 2007 with another independently-owned wind farm in Benton County. That contract provided 30 MW of energy or roughly 95 million kWh, which is enough to power 8,000 homes.

The Fowler Ridge wind farm, which will be the largest in the Midwest when completed, is owned and operated through a joint venture of BP Wind Energy and Dominion, in which BP Wind Energy retains sole ownership of 100 MW.

Vectren’s electric utility serves all or portions of seven counties in southwestern Indiana, including Vanderburgh, Warrick, Spencer, Gibson, Posey, Pike and Dubois.

Source: Inside INdiana Business & Vectren Corp.

Posted by: Rolando Trentini AT 02:30 pm   |  Permalink   |  Email

The Trentini Team
F.C. Tucker EMGE REALTORS®
7820 Eagle Crest Bvd., Suite 200
Evansville, IN 47715
Office: (812) 479-0801
Cell: (812) 499-9234
Email: Rolando@RolandoTrentini.com


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