Southern California Edison (EIX) Sign Wind Energy Contract with Alta Windpower Development
Southern California Edison signed a wind energy contract that will provide the utility's customers with a major new source of emission-free power.
The agreement with Alta Windpower Development LLC, a subsidiary of Allco Financial Group Inc. of Australia, a global financial-services business, is the largest wind energy contract ever signed by a U.S. utility. It secures for SCE customers 1,500 megawatts(a) (MW) or more of power generated by new projects to be built in the Tehachapi area of California.
The contract, which more than doubles SCE's wind energy portfolio, envisions more than 50 square miles of wind parks in the Tehachapi region - triple the size of any existing U.S. wind farm. Oak Creek Energy Systems Inc. of Mojave, Calif., is a partner with Allco in the development, construction, and operations of the projects.
An Edison International (NYSE:EIX - News) company, Southern California Edison is one of the nation's largest electric utilities, serving a population of more than 13 million via 4.7 million customer accounts in a 50,000-square-mile service area within central, coastal and Southern California.
Stocks Mentioned
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
