Who’s interested in the market for renewable energy in the United States? Canada, apparently–specifically, Enbridge Inc., of Alberta, which recently announced that it will be investing $500 million in a 250-megawatt wind energy project in an agreement with Renewable Energy Systems Americas Inc. (RES Americas), under which a U.S. affiliate of theirs will own and operate the 250-megawatt (MW) wind energy project in Colorado.
The renewable energy development, known as the Cedar Point Wind Energy Project, will be located approximately 80 miles east of Denver. Construction will be handled by RES Americas and is expected to begin shortly, with “substantial completion” of the project slated for late 2011. The project will deliver electricity to Public Service Company of Colorado (PSCo) under a 20-year, fixed-price power purchase agreement.
The project represents the latest in Enbridge’s series of renewable energy projects, which so far include seven other facilities ranging from wind and solar projects to hybrid fuel cell and waste heat recovery facilities. The Cedar Point project–utilizing 139 Vestas 1.8 MW turbines–will bring the total generating capacity of the company’s green energy projects to more than 800 MW – enough to meet the energy needs of about 260,000 homes.
“In addition to boosting our bottom line, green energy is a key component in our plan to achieve a neutral environmental footprint as we grow our operations,” said Mr. Monaco, in a statement. “In 2009 we committed to generating a kilowatt hour of renewable energy for every kilowatt hour of energy that our operations consume, and we are making good progress on that objective.” Enbridge Inc. has been listed as a Global 100 Sustainable Company.