AltaGas Ltd. commissions its first wind farm in the U.S.
- The project was completed ahead of schedule with a cost to AltaGas of US$25 million.
AltaGas Ltd. (TSX:ALA) (TSX:ALA.PR.A) (TSX:ALA.PR.U) announced the successful commissioning of the Busch Ranch Wind Project ("Busch Ranch") in southern Colorado. AltaGas owns a 50 percent interest in the 29 MW wind project with the local utility Black Hills/Colorado Electric Utility Company LP ("Black Hills Energy"). The power generated from AltaGas' 50 percent interest is sold pursuant to a 25-year renewable energy purchase agreement with Black Hills Energy. The project was completed ahead of schedule with a cost to AltaGas of US$25 million.
"Busch Ranch is a strong addition to our renewable portfolio in the U.S.," said David Cornhill, Chairman and CEO of AltaGas. "We continue to execute our growth strategy with long-term contracted assets that provide stable earnings and strong growth for our shareholders."
Busch Ranch, alongside the biomass generation assets acquired earlier in 2012, increases AltaGas' current renewable power generation in the U.S. to approximately 50 MW. All of these U.S. renewable power assets are fully contracted with long-term power purchase agreements.
Join 80,000 oil and gas professionals who receive our weekly newsletter.
You may unsubscribe at any time with one click.
This article is for information and discussion purposes only and does not form a recommendation
to invest or otherwise. The value of an investment may fall. The investments referred to in this
article may not be suitable for all investors, and if in doubt, an investor should seek advice from
a qualified investment adviser. More
Upcoming OilVoice Training Course
Geomechanics, Basic and Beyond, in Reservoir Management
This course builds from the fundamentals of geomechanics leading up to cutting-edge concepts and a new way of interpreting the behaviour of conventional reservoirs. In particular it shows how historical field production data can be analysed in novel ways to provide information about reservoir commun...
All OilVoice Training Courses