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ENRON SIGNS LARGEST SUPPLY CONTRACT IN WIND ENERGY HISTORY
FOR IMMEDIATE RELEASE: Wednesday, March 19, 1997
HOUSTON -- Enron Renewable Energy Corp. (EREC), a majority-owned subsidiary of Enron Corp., announced today that its subsidiary, Zond Corporation, has signed a contract with MidAmerican Energy Company, a major midwest utility, to supply 112.5 megawatts of wind generated electricity to the MidAmerican electrical grid. The power purchase agreement is the single largest purchase contract in the history of wind energy.
MidAmerican, which services 642,000 electric customers and 610,000 natural gas customers, will purchase all of the output from the plant that Zond will construct in northwestern Iowa. The project will generate enough electricity annually to offset 1.9 million pounds of air pollutants that would otherwise be generated from fossil fuel plants.
"We are very pleased and proud to have been chosen to supply clean, pollution-free wind electricity to MidAmerican for its consumers," said Kenneth C. Karas, vice chairman, wind group for EREC, and chairman and CEO of Zond Corporation. "The project will be a world-class, state-of-the-art facility. It will provide new jobs in Iowa and reduce the payments by Iowa residents for out-of-state power supply."
The project will include approximately 150 of Zond's new advanced Z-750 kilowatt Series wind turbines, the largest wind turbines manufactured in the United States. The Z-750 kilowatt Series wind turbines utilize a variable speed constant frequency configuration which increases the aerodynamic efficiency of the turbines while reducing mechanical loads. The project will provide sufficient clean, pollution-free electricity to power approximately 50,000 average homes.
Enron Corp., one of the world's largest integrated natural gas and electricity companies with approximately $16 billion in assets, operates one of the largest natural gas transmission systems in the world; is the largest purchaser and marketer of natural gas and the largest non-regulated marketer of electricity in North America; 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 in the energy market; 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 a majority interest in Enron Global Power & Pipelines L.L.C., which is owner and manager of 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 renewable energy worldwide. Enron is traded under the ticker symbol, "ENE."
For additional information please contact:
Gary Foster
(713) 853-4527
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