Geronimo Energy, a US-based renewable project developer, has inked two long-term purchase agreements with Xcel Energy for 400MW of wind energy.
Under the agreements, electricity and natural gas company Xcel will procure 400MW generated at the Courtenay and Odell wind farms located in North Dakota and Minnesota, respectively.
Northern States Power Co.-Minnesota president and CEO Dave Sparby said that the purchase agreement is intended to reduce the energy costs for its customers, diversify its energy portfolio and cut down carbon emissions.
"We’re proposing to add substantial amounts of wind power now to take advantage of very attractive prices for our customers that resulted from Congress’ extension of the federal renewable electricity Production Tax Credit," added Sparby.
Geronimo Wind Energy president Blake Nixon said, "Geronimo is excited to once again work with Xcel Energy and to deliver an additional 400 megawatts of long-term, low cost renewable energy to Xcel Energy’s customers."
Located on 25,000 acres in Stutsman County, the 200MW Courtenay Wind Farm will feature 125 wind turbines and is estimated to cater to the energy requirements of 60,000 homes.
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By GlobalDataThe Odell Wind Farm in Jackson, Watonwan and Cottonwood counties will have 125 wind turbines and it will supply 200MW.
Both the wind projects will provide annual tax revenues of $1.69m including $850,000 from Courtenay facility and $840,000 from Odell farm.
"These two projects will also bring strong economic benefits to the local residents and communities in which they are located," said Nixon.
