ENRON WIND, ENRON POWER MARKETING ANNOUNCE FIRST SIGNIFICANT FACILITY TO ALLOW GREEN POWER CUSTOMERS TO PURCHASE SHORT-TERM WIND POWER
FOR IMMEDIATE RELEASE: Wednesday, February 28, 2001
HOUSTON -- Enron Wind and Enron Power Marketing, Inc. (EPMI), affiliates of Enron Corp., announced today completion of a transaction in which Enron Wind will build a 135-megawatt (MW) wind power facility near Iraan, Texas, in Pecos County, and EPMI will purchase the project’s electricity under a long-term agreement for resale into the Texas wholesale electricity market. This will be the first major wind facility that allows wholesale customers to purchase portions of the wind power production. In the past, customers interested in purchasing “green power” were often forced to commit to 100 percent of a project’s output over the 20-year life of the equipment.
The project, which consists of 90 Enron Wind 1.5 MW wind turbines, is expected to be completed in late 2001. The project will supply approximately 520,000 megawatt hours of clean electricity each year, enough to supply the annual residential needs of approximately 50,000 average American homes. The Enron Wind 1.5 is the largest wind turbine manufactured in North America.
“This project provides our customers the ability to effectively procure their green energy,” said Kevin Presto, vice president, EPMI. “We are committed to providing innovative solutions to our customers as this project clearly demonstrates.”
"We are pleased to see that wind power’s competitive costs and the world’s growing environmental awareness are opening doors to transactions such as this that provide consumers with the opportunity to demonstrate their environmental commitment," said Adam Umanoff, managing director, Enron Wind.
Market participants interested in discussing wholesale purchases from this project can contact Mike Curry of EPMI at (713) 853-4258.
Enron is one of the world’s leading electricity, natural gas and communications companies. The company, with revenues of $101 billion in 2000, markets electricity and natural gas, delivers physical commodities and financial and risk management services to customers around the world, and has developed an intelligent network platform to facilitate online business. Fortune magazine has named Enron “America’s Most Innovative Company” for six consecutive years. Enron’s Internet address is www.enron.com. The stock is traded under the ticker symbol “ENE.”
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For additional information please contact:
Mary McCann
Enron Wind Corp.
(661) 823-6732
Eric Thode
Enron North America
(713) 853-9053
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