ScottishPower's PPM Energy Acquire And Build Shiloh Wind Project

ScottishPower's competitive US energy subsidiary, PPM Energy, is to acquire and build the 150 MW Shiloh wind project in northern California, making PPM the current leader in US wind power for announced projects in 2005.

The fully permitted Shiloh project in Solano County, California, was acquired from enXco, an affiliate of EDF Energies Nouvelles of France. The capital invested in the project is expected to be approximately $235 million, and for Shiloh to be immediately earnings enhancing upon completion.

Output from the windfarm is currently being marketed and is expected to be sold shortly under long-term agreements. Approximately 80% of PPM's wind power including Shiloh is sold under long-term contract.

PPM currently controls approximately 830 MW of wind power in seven states and has previously announced projects totaling 424 MW under development in 2005. With Shiloh's 150 MW, PPM is expected to complete 574 MW in the year - more than announced to date by any other US developer - and have a total of approximately 1,400 MW under its control by year-end, well on target toward PPM's goal of bringing online 2,300 MW of wind power by 2010.

"PPM is pleased to bring online this fifth project for 2005, extending our US wind power footprint from California to New York," said Terry Hudgens, PPM's CEO. "Our pipeline of projects has grown during the year and we are pleased to be bringing a large number of opportunities to the development stage."

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Posted 23/05/05

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