TVA purchasing wind power from Kansas, Illinois
KNOXVILLE, TENNESSEE - The Tennessee Valley Authority has inked four deals to purchase wind power generated in Illinois and Kansas.
The federal utility said that the contracts will allow it to purchase up to 815 megawatts of renewable wind energy, and will move it closer to a goal of having more than half its power generation come from non-carbon emitting sources.
"Wind power is a clean and limitless source of energy that directly enhances TVA's mission of environmental stewardship," executive vice president Van Wardlaw said in a news release. "When we look at all the options for renewable sources, it makes sense for TVA to invest in wind energy."
TVA's current renewable energy portfolio now includes 5,095 megawatts from hydro, wind, solar and methane sources.
TVA entered a pair of contracts with affiliates of Invenergy Wind to provide up to 350 megawatts from energy centers in McLean County and Henry County, Ill., both beginning in January 2012, according to the federal utility's statement.
The agency also signed contracts with CPV Renewable Energy Co. for up to 165 megawatts from a project in Gray County, Kan., and with Iberdrola Renewables Inc. for up to 300 megawatts from a project in Illinois.
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Peterborough Distribution sold to Hydro One for $105 million.
PETERBOROUGH - The City of Peterborough said Wednesday it has agreed to sell Peterborough Distribution Inc. to Hydro One for $105 million.
The deal requires the approval of the Ontario Energy Board.
According to the city, the deal includes a one per cent distribution rate reduction and a five-year freeze in distribution rates for customers, plus:
- A second five-year period with distribution rate increases limited to inflation and an earnings sharing mechanism to offset rates in year 11 and onward
- Protections for PDI employees with employees receiving employment offers to move to Hydro One
- A sale price of $105 million
- An agreement to develop a regional…
