GRDA, TradeWind Energy sign renewable energy purchase agreements

25 March 2014 (Last Updated March 25th, 2014 18:30)

The Grand River Dam Authority (GRDA) board of directors has approved 20-year power purchase agreements with TradeWind Energy for the Mustang Run and Breckinridge wind power projects in Oklahoma, the US.

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The Grand River Dam Authority (GRDA) board of directors has approved 20-year power purchase agreements with TradeWind Energy for the Mustang Run and Breckinridge wind power projects in Oklahoma, the US.

TradeWind Energy's 136MW Mustang Run and the 98MW Breckinridge projects will generate enough power for approximately 65,000 Oklahoma homes.

Over the next 20 years, the two wind farms will pay up to $50m to TradeWind's landowner partners and generate in excess of $30m in total ad valorem property taxes.

The Mustang Run wind farm encompasses approximately 16,000 acres in Osage County in Oklahoma. The wind farm will provide approximately 150 construction jobs and ten full-time jobs. It would generate enough power for approximately 45,000 Oklahoma homes.

TradeWind Energy will develop the Breckinridge wind project on approximately 10,000 acres in Garfield County, just north of the town of Breckinridge.

"Its goal is to have a well-balanced and diversified generation portfolio."

Once fully developed, the two projects are expected to contribute up to $4m ($2m each) annually in direct payments to the respective local communities via property taxes and rent payments to landowners who will host the turbine easements over the 20-year contract terms.

GRDA CEO and Investments director Dan Sullivan noted that its goal is to have a well-balanced and diversified generation portfolio.

"The addition of these wind projects will help bring the diversity we need.

"The fuel options we will have in the future will continue to serve our customers well with reliability and affordability. We look forward to our partnership with TradeWind in this very important step toward our future," Sullivan added.


Image: TradeWind Energy's Mustang Run project in Oklahoma, US. Photo: courtesy of TradeWind Energy.

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