Iberdrola Signs Its Largest Ever PPA with TVA

Iberdrola Renewables has signed its largest ever power purchase agreement (PPA) with the Tennessee Valley Authority (TVA). TVA will purchase 300 megawatts (MW) of renewable energy from Iberdrola’s Streator Cayuga Ridge South Wind Power Project under construction near the villages of Odell and Emington, Illinois, south of Chicago.

The 300-MW Streator Cayuga Ridge South wind farm in Livingston County, Illinois is expected to be placed in service in the spring of 2010.

“As one of the best sources of clean alternative energy, wind power is an important part of our effort to reduce America’s dependence on foreign oil,” said U.S. Senator Dick Durbin. “In addition to the clean source of electricity, the wind farm also means good-paying jobs in the region and a significant investment in Livingston County’s economic future.”

TVA will purchase the wind energy from Iberdrola as part of its effort to add 2,000 MW of new renewable or clean energy resources to the TVA generating system.

“Once the Cayuga Ridge project is completed, Illinois will far surpass 1,000 MW of installed wind generating capacity in the state,” said Illinois Department of Commerce and Economic Opportunity Director Warren Ribley. “Iberdrola Renewables’ investment in Illinois is not only good for our environment, but also for our economy, by bringing 331 direct construction jobs and substantial investment into Livingston County and the surrounding region.”

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