BALTIMORE, July 25 /PRNewswire-FirstCall/ -- Constellation Energy today announced that its wholesale origination and risk management subsidiary, Constellation Energy Commodities Group, Inc., signed an 18-year renewable energy power purchase agreement with Horizon Wind Energy, a company owned by Energias de Portugal (EDP), for power to be produced at the Twin Groves II wind farm outside of Bloomington, Ill.
Construction of the 120-turbine, 198 megawatt Twin Groves II project is under way and expected to be completed in early 2008. The contract term commences when the project is completed and producing power.
The Twin Groves wind farm is located in eastern McLean County, Ill., and interconnected to the regional PJM interconnection power grid.
"This agreement allows Constellation Energy to acquire an attractive and long-term source of clean and emissions-free generating capacity in the state of Illinois," said Mayo Shattuck, chairman, president and CEO of Constellation Energy. "It places Constellation Energy in a position to meet the demands of the increasing number of consumers interested in purchasing energy from environmentally friendly sources."
"We look forward to working with Constellation Energy, the nation's largest wholesale power seller, and applaud Constellation Energy for taking action to supply our country with clean, renewable energy," said Michael Skelly, chief development officer of Horizon Wind Energy. "We thank the community and local citizens for their enthusiasm and support, as well as the many landowners who are hosting this project."
Constellation Energy (http://www.constellation.com/), a FORTUNE 200 company with 2006 revenues of $19.3 billion, is the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of 78 generating units located throughout the United States, totaling approximately 8,700 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland.
Horizon Wind Energy (http://www.horizonwind.com/) develops, constructs, owns, and operates wind farms throughout the United States. Having developed more than 1000 MW of wind farms operating in Minnesota, Iowa, Pennsylvania, Oklahoma, New York, Washington, and Costa Rica, Horizon is currently developing a portfolio of more than 9000 MW in a dozen states and expects to bring nearly 1000 MW online in 2007. Horizon Wind Energy is owned by Energias de Portugal, S.A., a major Portuguese utility.
Constellation Energy
CONTACT: Media: Lawrence McDonnell, +1-410-470-7433, or Investors: Kevin
Hadlock, +1-410-783-3647, both of Constellation Energy; or Sarah Bray of
Horizon Wind Energy, +1-713-265-0310
Web site: http://www.constellation.com/
http://www.horizonwind.com/</a>
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