Arkansas Electric Cooperative Corporation (AECC) has reached a long-term agreement to purchase 150 megawatts of wind energy from RES America Developments Inc., a subsidiary of Renewable Energy Systems Americas Inc. (RES Americas).
"The additional 150 megawatts of low-cost wind energy provides AECC with a hedge against fluctuating natural gas energy prices," said Duane Highley, president and chief executive officer of AECC, a Little Rock-based wholesale electricity supplier. "AECC will have 201 megawatts of wind energy in its generation assets with this addition. We will continue to pursue energy options that allow AECC's member cooperatives to provide reliable electricity at the lowest possible cost."
The wind power will be sourced from the Origin Wind Energy project, which is located in Murray and Carter Counties in southeast Oklahoma.
RES Americas developed and will construct the 75 wind turbine project that is scheduled to begin commercial operation by Dec. 31, 2014. AECC will be the sole recipient of the electricity generated. Early last year, AECC signed a long-term power purchase agreement for 51 MW from the Flat Ridge 2 South Wind Farm in Kansas.
"We are delighted to work with AECC," said Tom Hiester, senior vice president of development with RES Americas. "This purchase demonstrates AECC's forward-looking approach to diversifying their portfolio, as well as their understanding of the economic benefits that long-term, low-priced wind energy contracts offer to their members."
AECC's agreement was made possible through the National Renewables Cooperative Organization (NRCO), which enables cooperatives nationwide to pool the ownership and benefits of renewable resources.
"We are delighted to work with AECC," said Tom Hiester, senior vice president of development with RES Americas. "This purchase demonstrates AECC's forward-looking approach to diversifying their portfolio, as well as their understanding of the economic benefits that long-term, low-priced wind energy contracts offer to their members."
AECC's agreement was made possible through the National Renewables Cooperative Organization (NRCO), which enables cooperatives nationwide to pool the ownership and benefits of renewable resources.