BP and Sempra to jointly invest $ 1 bn in US wind farms

Jan 11, 2012 12:00 AM

BP and Sempra Energy said that they will invest over $ 1 bn in two US wind farms under development in Pennsylvania and Kansas.
BP's wind development unit initially developed the projects and Sempra bought a 50 % equity stake in both facilities, Sempra said.

BP Wind Energy president and CEO, John Graham, said: "Our strategic relationship with Sempra US Gas & Power also continues to grow as a result of our aligned thinking and professional approach to energy generation.”
"As new members of the community where the Mehoopany and Flat Ridge 2 wind farms are to be built, we will strive to further enhance our proven track record in construction safety and on-going operational excellence."

The Pennsylvania facility is a 141-MW wind farm that will use 88 1.6-MW wind turbines made by General Electric, BP and Sempra said. The facility has long-term contracts to sell the electricity to two electric co-operatives.
Meanwhile, the 419-MW Kansas wind farm will use 262 of GE's wind turbines. The electricity generated will be sold to Associated Electric Cooperative and American Electric Power unit Southwestern Electric Power under long-term contracts.

BP is one of the world’s largest oil producers, and it also owns or co-owns 13 wind farms that have a combined generating capacity of 1,730 MW, the company said. BP will operate both wind farms when they become commercially operational.
Wind-farm installations are expected to grow globally from a $ 77 bn industry in 2011 to $ 153 bn in 2017, as markets grow in China, India, Germany, Spain, the US and other countries, according to a recent study by Pike Research.

Sempra owns electric and natural gas utilities in California, as well as gas pipelines and storage facilities and gas export terminals in the US and Mexico, and has been expanding into the wholesale solar power and wind power markets.
Sempra has 325 MW of solar and wind farms, including two wind farms in Indiana and Colorado that the company co-owns with BP Wind.

Sempra US Gas & Power president and CEO, Jeffrey W. Martin, said: "This is an exciting time for our company.”
“Over the next 12 months we expect to more than double the size of our operating wind and solar generation portfolios, resulting in significantly improved recurring cash flows from long-term contracted assets."

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