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FOR IMMEDIATE RELEASE: Tuesday, November 18, 1997
SANTA BARBARA, CA. - In a move that sets its commitment to renewable energy apart from other companies, Kenneth L. Lay, chairman and CEO of Enron Corp., today announced plans to build a 39 megawatt wind farm in Southern California which will provide electricity for Enron Earth Smart Power SM.
"The cost of entry for companies to make the claim to be environmentally friendly is their commitment to add incremental generation of renewable energy," said Lay. "Unlike others who say they will build new sources of renewable power IF customers come, Enron is making that investment today. We will not simply be reallocating existing renewable production as the other marketers plan to do"
The new wind farm will be constructed on two sites in Southern California by Enron Wind Corp. (EWC), based in Tehachapi, California. The first site will be in Riverside County and is scheduled to begin generating 16 megawatts of electricity in the third quarter of 1998 and the second at a site yet to be determined, will generate another 23 megawatts in 1999. The new wind farm will feature the most advanced technology, Zond's new Z-750 kW series wind turbine. Construction is scheduled to begin by early 1998.
Lay, speaking to the Nature Conservancy's International Leadership Council, also announced the introduction of Enron Earth Smart Power SM to be offered by Enron Energy Services (EES), Enron Corp.'s retail unit. Enron Earth Smart Power SM is environmentally friendly electricity -- at least 50 percent which is generated from renewable resources and the balance of the power guaranteed not to come from nuclear, coal or oil. EES has signed a letter of agreement with EWC to purchase all of the electricity produced at the new wind farm in Riverside County.
"January 1, 1998 will be a historic day in California," said Lay. "Not only are Californians going to be able to choose their electric company, they will also have the ability to show their commitment to the environment by selecting a brand of electricity which includes power from new clean generation sources."
The marketing effort for Enron Earth Smart Power SM begins this week. Service will be available to all residents and businesses in the service territories of Southern California Edison, Pacific Gas & Electric, and San Diego Gas & Electric beginning in January 1998. Enron Earth Smart Power SM has been authorized through an independent, non-profit oversight process administered by the Center for Resource Solutions to use the Green-e Renewable Electricity Brand. The Green-e Brand indicates that the electricity supplies used for this product include verified renewable energy resources, have air emissions for sulfur dioxide, nitrogen oxide, and carbon dioxide at or lower than what is currently contained in California's System Power, and that the certified products meet the program's stringent ethical, consumer and environmental protection criteria.
Enron Corp., one of the world's largest integrated natural gas and electricity companies with approximately $23 billion in assets, operates one of the largest natural gas transmission systems in the world; is the largest marketer of natural gas and electricity in North America; is a leading participant in liberalized energy markets in the United Kingdom and the Nordic Countries; markets natural gas liquids worldwide; manages the largest portfolio of fixed-price natural gas risk management contracts in the world; is among the leading entities arranging new capital to the energy industry; owns a majority interest in Enron Oil & Gas Company, one of the largest independent (non-integrated) exploration and production companies in the United States; owns and manages operating power plants and natural gas pipelines around the world; is one of the largest independent developers and producers of electricity in the world; and is a major supplier of solar and wind energy worldwide. Enron's internet address is www.enron.com and its common stock is traded under the ticker symbol, "ENE."
For additional information please contact:
Gary Foster
713-853-4527
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