RES America Developments Inc., a subsidiary of Renewable Energy Systems Americas Inc., has reached a long-term agreement to sell 150 megawatts of wind energy to Arkansas Electric Cooperative Corp.
“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,” said Tom Hiester, RES Americas’ senior vice president of development.
Little Rock, Ark.-based AECC will be the sole customer for RES America’s Origin Wind Energy project, which will comprise 75 turbines in Murray and Carter counties. Commercial operation is scheduled to start by December 31, 2014.
“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 & CEO of the 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.”
Announced on July 22, the agreement was made possible by the National Renewables Cooperative Organization, which enables electricity cooperatives across the country to pool ownership and benefits of renewable resources.
Photo Courtesy of: www.res-americas.com