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2 July 2003 - GE Wind Energy has entered into a one-year turbine sales agreement with PPM Energy Inc. of Portland, Oregon, a leading US developer of wind and gas generation projects. Under the agreement, PPM will purchase 1.5 MW wind turbines exclusively from GE Wind Energy for qualified US projects through June 2004.
The turbine sales agreement was initiated to help accelerate development and transaction efforts and provide PPM with exclusive access to certain GE land assets with the ability to support more than 500 MW of new wind power installations. It also provides PPM with wind turbine equipment-related cost savings.
Prior to this latest agreement, GE had signed contracts with PPM for the supply of over 95 MW of GE's 1.5 MW wind turbines for PPM's Moraine and Flying Cloud projects in Minnesota and Iowa. Earlier this year PPM also purchased the 24 MW Klondike project in Oregon which also utilizes GE's 1.5 MW wind turbines.
"We are delighted that PPM, a major player in the growing wind industry, has selected our wind turbine technology for all of their US projects over the coming year," said Steve Zwolinski, president of GE Wind Energy, a unit of GE Power Systems. "This agreement will not only assure PPM an attractive price for our technology, but also enable project due diligence requirements to be completed more quickly and easily."
"PPM is pleased with its growing relationship with GE and GE's commitment to the wind industry," said Terry Hudgens, chief executive officer of PPM. "They are as serious as we are about making wind power a significant part of our nation's energy future."
PPM Energy, a US subsidiary of Scottish Power has a portfolio of more than 560 MW of wind power under ownership or control, with plans to secure 2000 MW of new wind power by 2010.
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