Direct Energy Signs Wind Energy Supply Agreement With Airtricity West Texas Wind Deal Adds to Direct Energy Green Power Portfolio
Posted on: Tuesday, 27 June 2006, 12:00 CDT
HOUSTON, June 27 /PRNewswire/ -- Building on its commitment to deliver choice to the competitive retail electric market in Texas, Direct Energy has signed a five-year, exclusive agreement with Airtricity Inc., a leading international renewable energy company founded in Dublin, Ireland. Direct Energy will purchase all output and Renewable Energy Credits (RECs) from the 90 MW Sand Bluff Wind Farm located 60 miles north of San Angelo, Texas. Airtricity's Sand Bluff Wind Farm is scheduled to achieve commercial operation in the second quarter of 2007. After construction, Airtricity will own and operate the 90 MW facility.
According to Jay Hellums, Senior Vice-President, U.S. Energy Management for Direct Energy, the agreement with Airtricity builds nicely on the existing relationship that Direct Energy's U.K. parent company, Centrica plc, has with Airtricity. Airtricity is developing the 72 MW Braes of Doune wind project in Scotland, from which Centrica plc has a long-term offtake agreement. The Sand Bluff Wind Farm is among the first of many planned projects for Airtricity in the U.S. marketplace.
"Airtricity is a world leader in renewable energy generation and supply, and a natural ally for Direct Energy as we continue to grow our renewable supply in Texas," said Hellums. "Purchase agreements such as this one are an integral part of Direct Energy's strategy for procuring a variety of competitively priced energy options for its Texas consumers."
This is Direct Energy's second wind power contract in Texas. In June 2005, the company entered into an exclusive, 15-year power purchase agreement for all output from the 120 MW Buffalo Gap Wind Farm located near Abilene, Texas.
"These contracts allow Direct Energy to offer both affordable and renewable power to its customers at a time when Texas consumers are demanding more green power," Airtricity CEO Eddie O'Connor said. "Direct Energy's commitment to renewables deserves praise and Airtricity is pleased to assist their efforts in promoting new renewable projects."
The Sand Bluff agreement also strengthens Direct Energy's overall asset base. Direct Energy sources from a balanced portfolio of its own generation, contracts and traded market purchases. Prior to the Sand Bluff agreement, Direct Energy had already developed a portfolio of three power plants; Bastrop Energy Center near Austin, Texas, Frontera Energy Center, in Mission, Texas and the recently acquired Paris Energy Center, in Paris; in addition to the Buffalo Gap Wind Farm power purchase agreement.
"Our agreement with Airtricity reinforces Direct Energy's commitment to investing in renewables and projects in the state of Texas," said Phil Tonge, President, Direct Energy Texas. "We are continually looking at ways to expand and bolster our portfolio of energy and related services, and the ability to secure environmentally-friendly power supply at stable rates will allow us to continue to provide competitively priced alternatives to consumers."
About Airtricity
Airtricity is a world leading renewable energy company. As an integrated utility, the company is both a generator and supplier of green electricity. The company currently supplies renewable electricity to over 45,000 commercial customers in both the Republic of Ireland and Northern Ireland and is developing and operating wind farms in the Republic of Ireland, Northern Ireland, Scotland, England, and the United States. Airtricity together with its joint venture partner Fluor, has also been awarded a lease from The Crown Estate to build and operate a 500 megawatt offshore wind park at Greater Gabbard in the United Kingdom. http://www.airtricity.com/
About Direct Energy
Direct Energy, North America's largest non-utility retail energy provider, is part of the Centrica group of companies whose North American operations have grown to over five million customer relationships. In Texas, the company is the third largest retail energy provider in the state and provides services to homebuilders and homeowners through Direct Energy, CPL Retail Energy, WTU Retail Energy and its Residential Services Group divisions including Airtron, Hallmark Air Conditioning and Heating, a-abc Appliance & Air Conditioning, and K&N Plumbing and Jarrell Plumbing. Globally, the Centrica group of companies is a leading provider of energy and other essential services with approximately 31 million customer relationships. For more information, visit http://www.directenergy.com/.
Direct Energy; Airtricity
CONTACT: Lisa Dornan of Direct Energy, +1-713-877-3925; or PatrickWoodson of Airtricity Inc., +1-512-680-6036
Web site: http://www.directenergy.com/http://www.airtricity.com/
Source: PRNewswire
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