TXU's Commitment to Renewable Energy Helps Position Texas As Nation's Leader
Posted on: Monday, 7 August 2006, 12:01 CDT
DALLAS, Aug. 7 /PRNewswire/ -- The American Wind Energy Association (AWEA) reported that Texas is now the largest producer of wind-generated energy in the nation, surpassing California for the first time since 1981. TXU Renew and its affiliate company, TXU Wholesale, are the largest purchasers of wind- generated energy in Texas, and the fifth largest in the U.S.
"For the first time in nearly 25 years, Texas is leading the way for renewable energy, and this is a tremendous accomplishment," said Mike McCall, Chairman and Chief Executive Officer for TXU Renew.
TXU Corp. announced the creation of TXU Renew in April 2006 as part of its multi-horizon Powering the Future of Texas initiative. TXU Renew's core mission is to double TXU Wholesale's renewable energy portfolio by 2011. This new business unit will focus on the growing renewable energy market by investing in renewable power production, resulting in a portfolio of approximately 1,400-megawatts (MW).
"As we've shown with the launch of TXU Renew, we are continuing to diversify our portfolio to meet the needs of all Texans," added McCall. "Five years from now, we will provide enough wind energy to power 275,000 Texas homes. This will further position Texas as a leader in renewable energy."
According to the AWEA's Second Quarter Market Report, Texas increased its wind-generated capacity to 2,370 MW in 2005, surpassing California's 2,323 MW of capacity. California has been the nation's leader in wind-generated energy since the inception of wind farms in 1981, and at one time produced over 80 percent of the world's wind-generated energy.
TXU Wholesale currently supplies Texas retailers with enough wind energy to power 113,000 Texas homes and meet the annual energy needs of about 260,000 Texans. The company currently purchases 580 MW of renewable energy from 702 wind turbines in Texas. Effective January 1, 2007, TXU Wholesale's portfolio will increase to 705 MW of wind-generated energy, as an agreement with Airtricity becomes effective.
TXU Wholesale was honored by the American Wind Energy Association in 2001 for "leading the Texas Wind Energy boom." The company's participation in the Brazos Wind Farm also received the Project of the Year Award from the Texas Renewable Energy Industries Association in 2004.
For more information on other ways TXU Wholesale and its affiliates are working to provide reliable power to consumers, visit: http://www.reliabletexaspower.com/ .
TXU Corp., a Dallas-based energy company, manages a portfolio of competitive and regulated energy businesses primarily in Texas. In the competitive TXU Energy Holdings segment (comprised of electricity generation, wholesale marketing and retailing), TXU Energy provides electricity and related services to more than 2.2 million competitive electricity customers in Texas, more customers than any other retail electric provider in the state. TXU Power has over 18,300 megawatts of generation in Texas, including 2,300 MW of nuclear and 5,837 MW of lignite/coal-fired generation capacity. TXU Wholesale optimizes the purchases and sales of energy for TXU Energy and TXU Power and provides related services to other market participants. TXU Wholesale and its affiliate, TXU Renew, are the largest purchasers of wind- generated electricity in Texas and fifth largest in the United States. TXU Corp.'s regulated segment, TXU Electric Delivery, is an electric distribution and transmission business that complements the competitive operations, using superior asset management skills to provide reliable electricity delivery to consumers. TXU Electric Delivery operates the largest distribution and transmission system in Texas, providing power to three million electric delivery points over more than 100,000 miles of distribution and 14,000 miles of transmission lines. Visit http://www.txucorp.com/ for more information about TXU Corp.
This release contains forward-looking statements, which are subject to various risks and uncertainties. Discussion of risks and uncertainties that could cause actual results to differ materially from management's current projections, forecasts, estimates and expectations is contained in the company's SEC filings. In addition to the risks and uncertainties set forth in the company's SEC filings, the forward-looking statements in this release could be affected by changes in demand for electricity, changes in wholesale electricity prices or energy commodity prices, the company's ability to fund certain investments described herein, changes in competitive market rules, changes in environmental laws or regulations, changes in electric generation and emissions control technologies, and changes in projected demand for electricity in Texas.
TXU Renew
CONTACT: Kimberly Morgan of TXU Renew, +1-214-875-8016
Web site: http://www.txucorp.com/http://www.reliabletexaspower.com/
Source: PRNewswire
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