Sempra U.S. Gas & Power Announces the Acquisition of Nebraska Wind Project
75-MW Wind Project to Begin Construction in December 2013
SAN DIEGO, Sept. 26, 2013 /PRNewswire/ -- Sempra U.S. Gas & Power today announced it has acquired and will develop the Broken Bow 2 wind project in Nebraska. When Broken Bow 2 is completed, Sempra U.S. Gas & Power will have joint-venture projects totaling more than 1,000 megawatts (MW) of wind generating capacity.
Sempra U.S. Gas & Power also announced it has executed an agreement to purchase forty-three 1.7-MW General Electric wind turbines to power the 75-MW wind farm. Located in Custer County, Neb., the wind farm will generate enough renewable power for approximately 30,000 Nebraska homes with construction slated to begin in December 2013. The project is expected to employ about 300 workers during peak construction and to be in commercial operation by late 2014. The entire power output from the wind farm has been sold to the Nebraska Public Power District under a 25-year contract.
"We are pleased to have the opportunity to acquire, build and operate the Broken Bow 2 wind project and work with the state of Nebraska as it continues to establish itself as a renewable energy leader," said Kevin C. Sagara, vice president of renewables for Sempra U.S. Gas & Power. "Our company continues to invest in the development, construction and operation of renewable energy infrastructure. We look forward to providing a stable supply of clean power to the region and becoming a long-term partner with the local community."
"Sempra U.S. Gas & Power's Broken Bow 2 wind project will create hundreds of construction jobs and provide a substantial economic boost to the local economy," said Melissa Garcia, President and CEO of Custer Economic Development Corporation. "Wind energy development compliments Custer County's business landscape and we look forward to seeing the project break ground later this year."
The 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. The company operates solar, wind and natural gas power plants that generate enough electricity for nearly 1 million homes, along with natural gas storage, pipelines and distribution utilities. The company is a subsidiary of Sempra Energy (NYSE: SRE), a Fortune 500 energy services holding company with 2012 revenues of approximately $10 billion. The Sempra Energy companies' nearly 17,000 employees serve more than 31 million consumers worldwide. For more information, visit www.SempraUSGP.com.
This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words like "believes," "expects," "anticipates," "intends," "plans," "forecasts," "estimates," "may," "will," "would," "could," "should," "potential," "target," "outlook," "project, "maintain,""depends," "pursue" or similar expressions, or discussions of guidance, strategies, plans, goals opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: local, regional, national and international economic, competitive, political, legislative and regulatory conditions and developments; actions and the timing of actions by the California Public Utilities Commission, California State Legislature, Federal Energy Regulatory Commission, U.S. Department of Energy, Nuclear Regulatory Commission, California Energy Commission, California Air Resources Board, and other regulatory, governmental and environmental bodies in the United States and other countries where the company does business; capital market conditions, including the availability of credit and the liquidity of investments; inflation, interest and exchange rates; the impact of benchmark interest rates, generally Moody's A-rated utility bond yields, on the California utilities' cost of capital; the timing and success of business development efforts and construction, maintenance and capital projects, including risks inherent in the ability to obtain, and the timing of the granting of, permits, licenses, certificates and other authorizations; energy markets, including the timing and extent of changes and volatility in commodity prices; the availability of electric power, natural gas and liquefied natural gas, including disruptions caused by failures in the North American transmission grid, pipeline explosions and equipment failures; weather conditions, natural disasters, catastrophic accidents, and conservation efforts; risks inherent in nuclear power generation and radioactive materials storage, including catastrophic release of such materials, the disallowance of the recovery of the investment in, or operating costs of, the generation facility due to an extended outage, and increased regulatory oversight; risks posed by decisions and actions of third parties who control the operations of investments in which the company does not have a controlling interest; wars, terrorist attacks and cyber security threats; business, regulatory, environmental and legal decisions and requirements; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of SDG&E's electric transmission and distribution system due to increased power supply from renewable energy sources; the impact on competitive customer rates of the growth in distributed and local power generation and the corresponding decrease in demand for power delivered through our electric transmission and distribution system; the inability or determination not to enter into long-term supply and sales agreements or long-term firm capacity agreements; the resolution of litigation; and other uncertainties, all of which are difficult to predict and many of which are beyond the control of the company. Additional information concerning factors that could cause actual results to differ materially from these forward-looking statements are further discussed in the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q 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 statement. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or other factors.
Sempra International, LLC, and Sempra U.S. Gas & Power, LLC, are not the same companies as 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