Published on July 16th, 2012 | by Andrew0
First Turbine Going Up on Enel–GE Energy Financial’s 235-MW Chisholm View Wind Farm
July 16th, 2012 by Andrew
Enel Green Power North America announced it has started construction of the 235-MW Chisholm View Wind Project in Oklahoma. 140 wind turbines are due to be erected on the site, the clean, renewable electrical power from which will be purchased by Southern Co. subsidiary Alabama Power as per the terms of a 20-year power purchase agreement (PPA), according to an Enid News & Eagle report.
Contractor Mortenson Construction’s Renewable Energy Groups is seeing to Chisholm View’s construction. More than 150 workers are on the Chisholm View Wind Project site. Construction completion and commissioning of the planned 140 General Electric (GE) 1.68-MW wind turbines is due before year-end, with the first turbine now being installed.
Project developer TradeWind Energy estimates that the Chisholm View wind farm project will add as much as $5 million a year to the local economy from property taxes and rent payments to landowners. Environmentally, the wind farm project is projected to avoid more than 565,000 metric tons of greenhouse gas emissions annually, equivalent to taking some 110,000 cars off the road.
Green Jobs & Green Energy
Electricity from Chisholm View will be carried by an Oklahoma Gas & Electric (OGE) transmission line to power distribution centers in Dallas and Wichita, Kansas, and then on to Alabama Power’s service area, Enid News & Eagle’s report explains.
GE Energy Financial Services purchased a 51% equity stake in the $175 million wind farm project in April, when construction began. GEFS and Enel Green Power said they intended to raise additional capital for the project by securitizing the federal production tax credits (PTC) gained from Chisholm View’s development.
The federal wind energy PTC is due to expire at year-end, which has industry participants and supporters warning of a collapse in the US wind power market, signs of which are already being seen. A study from the American Wind Energy Association (AWEA) projects the loss of some 37,000 US wind energy jobs will be lost as a result.
Photo Credit: GE Energy
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