15 Jan 2002 – Entergy Corporation, through its Houston-based independent power development business unit, has purchased majority ownership of the 80 MW Top of Iowa Wind Farm, which is the company’s first investment in wind-powered generation. The project was purchased for an undisclosed amount from Houston-based Zilkha Renewable Energy and its partner, Midwest Renewable Energy Corporation.
As part of the transaction, Zilkha and Midwest will retain a long-term minority ownership in the project. Zilkha will continue to manage and operate the project. In February 2001, Alliant Energy signed a long-term contract to purchase 100 per cent of the project’s energy output, which is enough to supply approximately 25 000 homes.
Geoff Roberts, president and CEO of Entergy’s independent power development business unit said, “This project provides Entergy with an attractive entry vehicle into the wind energy business. We are especially pleased that Zilkha and Midwest will partner with Entergy in this project long term. The Top of Iowa Wind Farm is good for consumers, the environment and both companies.”
The Top of Iowa Wind Farm, located across 5 500 acres, contains 89 NEG Micon turbines, which each can produce 900 kW of power. The turbines are sited on
agricultural property owned by 52 landowners and are positioned to gain maximum benefit from the area’s year ’round, consistent wind.
Entergy maintains one of the lowest environmental emission rates of any utility in the country. In May 2001 the company pledged to voluntarily act to stabilize its domestic greenhouse gas emissions at year 2000 levels through 2005. Entergy has established an Environmental Initiatives Fund to help promote projects and advance research and technologies to accomplish greenhouse gas emissions stabilization.
In December 2001 Entergy entered into the first-ever international trade in carbon dioxide emissions allowances under a government regulatory programme with Danish electricity supplier Elsam SA.