New Wind Power Plans for Iowa

PPM Energy, Inc. (PPM), ScottishPower’s US energy business, has revealed plans to build a 44 MW, US$50 million wind project in northwest Iowa. The Flying Cloud project, jointly developed by PPM and Clipper Windpower, Inc., is only 80 miles from PPM’s 50 MW Moraine Wind Power Project under construction in southwest Minnesota.

Portland, Oregon – April 17, 2003 [] PPM will supply wind-generated electricity from Flying Cloud to regional utility Interstate Power & Light, a subsidiary of Alliant Energy Corp., through a 15-year contract. Moraine’s output is sold to regional utility Northern States Power (NSP). Expected to commence commercial operation in the late fall of 2003, the wind project located near Spirit Lake, Iowa brings PPM’s wind portfolio to nearly 100 MW in the Midwest. PPM also has about 500 MW of wind power that it markets or owns in the West at the Stateline Wind Energy Center and Klondike Wind Power Plant, both in the Northwest, and the High Winds Energy Center in California. PPM has plans to bring 2,000 MW of new wind power to market in the next five to seven years. However, the current Federal Production Tax Credit (PTC) expires on Dec. 31, 2003. Legislation is pending in Congress that would extend the PTC. “We’d like to see a long-term extension of the PTC because it’s difficult to be in a business that has an incentive one day and not the next,” said Terry Hudgens, PPM’s CEO. “It creates a less efficient market in the long run. We’re especially grateful to Sen. Charles Grassley (R-IA), the Chairman of the Senate Finance Committee, and others including Sen. Gordon Smith (R-OR), for their efforts to seek an extension of the PTC for a sufficient length of time in order to give the wind industry the continuity it needs to maintain momentum.” PPM has purchased 29 GE 1.5 MW wind turbines for the Flying Cloud project, the same turbines ordered for its Moraine project and currently in use at the Klondike Wind Power Plant near Wasco, Oregon.


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