October 29, 2008
Exelon Generation Signs Deal to Purchase Wind Power Generated in Illinois
KENNETT SQUARE, Pa., Oct. 29 /PRNewswire-FirstCall/ -- Exelon Generation Company, LLC, announced today that it has acquired the rights to purchase 198 MW of output from the 396 MW Twin Groves Wind Farm in Bloomington, Ill., about 150 miles southwest of Chicago. Exelon purchased the "off take" agreement, or rights to buy power from the wind farm, from Constellation Energy Commodities Group, Inc. The deal closed on Sept. 30. Horizon Wind Energy, LLC, a leading wind energy company, owned by EDP Renovaveis, the fourth largest wind energy player in the world, will continue to own and operate the Twin Groves Wind Farm, which went commercial in January 2008. Terms of the transaction were not disclosed.
Kenneth Cornew, senior vice president, Exelon Corporation and president, Exelon Power Team said, "This transaction is another step in our effort to bring renewable, low-carbon energy to the marketplace. The agreement boosts Exelon Generation's average annual purchase of wind power to approximately one million MWh, enough electricity to power nearly 100,000 homes. Along with nuclear power, energy efficiency, and other renewable sources, wind power is an important part of our company's efforts to address climate change."
Earlier this year, the company published Exelon 2020, a low-carbon roadmap that lays out a comprehensive business and policy strategy for addressing climate change. The Exelon 2020 roadmap sets a corporate goal of reducing, offsetting or displacing more than 15 million metric tons of greenhouse gas emissions per year by 2020 -- the equivalent of taking nearly 3 million cars off the road. Wind power is one means of addressing climate change since wind power projects generate electricity without producing any carbon emissions, one of the greenhouse gases that contribute to climate change.
The addition of the clean energy produced by Twin Groves brings Exelon Generation's wind power portfolio to 352 MW installed, making Exelon the biggest wholesale wind marketer east of the Mississippi. The transaction also adds to Exelon Generation's already sizeable portfolio of renewable energy projects, which includes wind, solar, landfill gas and hydro assets.
Exelon Corporation is one of the nation's largest electric utilities with more than $15 billion in annual revenues. At more than 32,000 megawatts, the company has one of the industry's largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon distributes electricity to approximately 5.4 million customers in northern Illinois and Pennsylvania and natural gas to approximately 480,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.
Exelon Generation Company, LLC
CONTACT: Fred Maher of Exelon Generation Communications,+1-610-765-6914
Web site: http://www.exeloncorp.com/