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4-Traders Homepage  >  Equities  >  Nyse  >  Pepco Holdings, Inc.    POM

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PEPCO : Delmarva Power, Synergics Eastern Agree to Contract Amendments

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05/24/2011 | 07:00pm CEST

Delmarva Power announced today that it has filed a request with the Delaware Public Service Commission to approve an amended agreement with Synergics Eastern Wind Energy, LLC that moves the land-based wind farm approximately 75 miles from western Maryland to central Pennsylvania, sets the final project size at 38 megawatts and extends the delivery date by six months to June 30, 2011. The price for the energy and associated renewable energy credits will not change.

In October 2008, the PSC approved two, 20-year contracts between Delmarva Power and Annapolis, Md.-based Synergics for wind energy and renewable energy credits. This amendment involves the second Synergics contract - Synergics Eastern - for a wind farm sized between 30 and 60 megawatts.

Synergics President Wayne Rogers said: "The shift in location allows us to more quickly bring renewable energy to Delmarva Power's customers and to create and retain jobs in our region." Synergics is expected to take ownership of the 38 megawatt Chestnut Flats wind farm in Blair County, Pa., upon completion of the construction which is slated for later this year. The wind farm, which is being developed by Gamesa, will use Gamesa G90 2.0MW wind turbines manufactured in Fairless Hills, Pa., a suburb of Philadelphia. The turbine blades were also manufactured by Gamesa in its western Pennsylvania facility.

"Gamesa is proud to have developed, constructed and supplied our wind turbine technology to this project, which will provide green and clean renewable energy to Delmarva Power's Delaware customers," said Jiddu Tapia, Chief Development Officer for Gamesa.

Gary Stockbridge, President, Delmarva Power Region, said: "It is important that we keep moving forward on our wind power commitments as part of our renewable energy portfolio. These amendments will enable us to do just that while supporting regional manufacturing and construction jobs at the same time."

In addition to the Chestnut Flats project, Delmarva Power has the following agreements for purchasing clean, renewable energy:

  • A 15-year contract with Arlington, Va.-based AES Wind Generation for 50 megawatts of land-based wind power from its Armenia Mountain project in Troy, Pa. The Armenia Mountain project began providing Delmarva Power with energy and renewable energy credits in November 2009.
  • A 20-year contract with Synergics for up to 40 megawatts of land-based wind power from its Roth Rock project in Garrett County, Md. This project has been providing energy and renewable energy credits to Delmarva Power on a test energy basis since January 2011 and is expected to go fully operational next month.
  • A 25-year contract with NRG-Bluewater for up to 200 megawatts of offshore wind power from its planned project off the Delaware coast.
  • A 20-year contract with White Oak Solar Energy for up to 16,500 megawatt-hours in solar renewable energy credits generated by the 10 megawatt Dover SUN Park project located in Dover, Delaware. This project is currently under construction and is scheduled to begin producing energy and solar renewable energy credits this summer.

Delmarva Power, a public utility owned by Pepco Holdings, Inc. (NYSE: POM), provides safe and reliable energy to nearly 500,000 electric delivery customers in Delaware and Maryland and over 123,000 natural gas delivery customers in northern Delaware.

Delmarva Power
Bridget Shelton
302-283-5808 (office)
866-655-2237 (pager)
Bridget.shelton@pepcoholdings.com


© Business Wire 2011
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