Sempra U.S. Gas & Power Announces Acquisition of Minnesota Wind Project
78-MW Wind Project to Move into Full Construction in Spring 2016
SAN DIEGO, April 23, 2015 /PRNewswire/ -- Sempra U.S. Gas & Power today announced it has acquired the Black Oak Getty wind project in Minnesota from Geronimo Energy, LLC, a utility-scale wind and solar energy developer. When the 78-megawatt (MW) Black Oak Getty is completed, Sempra U.S. Gas & Power, along with its affiliates and joint-venture partners, will have wind facilities in seven states totaling more than 1,200 MW of generating capacity.
Located in Stearns County, Minn., the Black Oak Getty wind farm will generate enough renewable power for approximately 30,000 Minnesota homes. The project is expected to move into full construction in spring 2016.
"We are pleased to have the opportunity to diversify and expand our renewables portfolio through the acquisition, development and operation of the Black Oak Getty wind project," said Patricia K. Wagner, president and CEO of Sempra U.S. Gas & Power. "We look forward to providing Minnesota with a stable supply of clean, renewable energy and becoming a long-term partner with the local community through the development and operation of this project."
The project is expected to employ about 250 workers at peak construction and be in commercial operation by late 2016. The entire power output from the wind farm has been sold to Minnesota Municipal Power Agency (MMPA) under a 20-year contract.
"We look forward to working with Sempra U.S. Gas & Power as a long term partner," said Derick O. Dahlen, executive director for Minnesota Municipal Power Agency. "MMPA's purchase from this wind project will help MMPA meet its renewable energy obligation of 25 percent in 2025."
"Geronimo is pleased to partner with a world-class company like Sempra U.S. Gas & Power to bring the Black Oak Getty wind farm into operation," said Blake Nixon, president of Geronimo Energy. "As a result of this transaction, the Black Oak Getty wind farm will bring positive economic impact to the local area and stable, low cost energy to the customers of Minnesota Municipal Power Agency."
Terms of the transaction were not disclosed.
About Sempra U.S. Gas & Power
Sempra U.S. Gas & Power, LLC is a leading developer of renewable energy and natural gas solutions with power plants that generate enough electricity for nearly 600,000 homes and businesses. Sempra U.S. Gas & Power companies also operate natural gas storage facilities, pipelines and distribution utilities. The company is a subsidiary of Sempra Energy (NYSE: SRE), a Fortune 500 energy services holding company with 2014 revenues of approximately $11 billion. The Sempra Energy companies' 17,000 employees serve more than 32 million consumers worldwide. For more information, visit www.SempraUSGP.com.
About Geronimo Energy
Geronimo Energy is a utility-scale renewable energy development company headquartered in Edina, Minnesota. Geronimo has developed multiple operating wind farms and solar projects throughout the Midwestern United States. Together with its various project partners, Geronimo is poised to build wind projects with an aggregate nameplate capacity of over 1,000 MW and approximately 200 MW of solar projects throughout the Midwest by the end of 2016. Geronimo has a multi-gigawatt development pipeline of wind and solar projects in various stages of development throughout the United States and provides custom renewable energy development solutions for utilities and corporations looking to harness renewable energy for business growth. For more information about Geronimo Energy, visit www.geronimoenergy.com.
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These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website at www.sempra.com. Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra International, LLC, and Sempra U.S. Gas & Power, LLC, are not the same companies as the California utilities, San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra International, LLC, and Sempra U.S. Gas & Power, LLC, are not regulated by the California Public Utilities Commission. Sempra International's underlying entities include Sempra Mexico and Sempra South American Utilities. Sempra U.S. Gas & Power's underlying entities include Sempra Renewables and Sempra Natural Gas.
Sempra U.S. Gas & Power
SOURCE Sempra U.S. Gas & Power
CategorySempra Energy , Sempra Renewables