SAN DIEGO, California (September 12, 2012): EDF Renewable Energy, formerly enXco, today announced that the 140 megawatt Pacific Wind Project, located in Kern County, California, is operational and supplying electricity to the regional transmission grid.
The project, developed and owned by EDF Renewable Energy, will deliver carbon-free electricity into the CAISO transmission system for the benefit of San Diego Gas and Electric Company’s (SDG&E) generation portfolio under a 20-year Power Purchase Agreement.
In addition, the company has closed financing for the project via a sale-leaseback transaction with Bankers Commercial Corp, a subsidiary of Union Bank, Metropolitan Life Insurance Company, and Citibank, NA. With this transaction, EDF Renewable Energy has successfully closed more than $4 billion in financing facilities over the last 10 years.
Consisting of REpower MM92 turbines, Pacific Wind generates electricity to supply approximately 56,000 customers with renewable energy. EDF Renewable Services, formerly enXco Service Corporation, will provide operations and maintenance services.
“EDF Renewable Energy recognizes and appreciates the hard work of our partners, in particular San Diego Gas & Electric, which has resulted in a wind project that offers important economic and environmental benefits to Kern County,” said Mark Tholke, Vice President of EDF Renewable Energy’s Southwest Region. “Policy support, such as California’s 33% mandate for renewable energy and the federal Production Tax Credit, are critical to level the playing field and provide for a stable wind industry that continues to produce jobs and tax revenues to local economies. This project, according to an economic impact study, is expected to generate over $300 Million in total economic benefits for Kern County businesses, government, and households over the life of the project. We look forward to a continued productive relationship with SDG&E and the communities of Kern County to further our efforts to supply clean energy to the nation’s grid.”
“SDG&E is pleased that the Pacific Wind project is now generating renewable energy to the electric grid, providing our customers with clean energy,” said Matt Burkhart, Vice President of Electric and Fuel Procurement for SDG&E. “We look forward to continuing to work with EDF Renewable Energy on vital renewable energy projects that will help push California closer to its 33 percent renewable energy goal.”
Pacific Wind Project represents EDF Renewable Energy’s 20th owned renewable energy project in California generating a combined 635.5 MW of clean energy for the state. This project brings EDF Renewable Energy’s gross installed capacity in the United States to 1,467 MW.