Constellation, Horizon in wind power deal

Constellation Energy signed an 18-year agreement today with Horizon Wind Energy for power to be produced at its pending Twin Groves II wind farm in Illinois.

The 120-turbine, 198 megawatt Twin Groves project is underway and expected to be complete in early 2008.

The financial terms of the contract were not revealed.

The deal comes on the heels of Energias de Portugal's purchase of Horizon on July 10 (see EDP acquires Horizon Wind, forms consortium).

EDP acquired Horizon, a leading developer, owner and operator of wind power generation in the United States, from Goldman Sachs in a transaction that valued Horizon at $2.74 billion.

This isn't Constellation's first wind power deal. Last month, the company's Constellation NewEnergy division agreed to buy clean energy, capacity and renewable energy certificates from UPC Wind through 2009 (see Steel Winds windfarm enters operation in New York).

UPC's 20 megawatt Steel Winds wind farm is just south of Buffalo, New York.

Horizon is building the Twin Groves turbine outside of Bloomington, Ill.

"This agreement allows Constellation Energy to acquire an attractive and long-term source of clean and emissions-free generating capacity in the state of Illinois," said Mayo Shattuck, chairman, president and chief executive officer of Constellation.

Based in Baltimore, Constellation owns 78 generating units throughout the States, totaling approximately 8,700 megawatts of generating capacity.

Horizon has developed more than 1,000 megawatts of wind farms in Minnesota, Iowa, Pennsylvania, Oklahoma, New York, Washington, and Costa Rica.

The company is currently working on a portfolio of more than 9,000 megawatts in a dozen states, and expects to bring nearly 1,000 megawatts online in 2007.

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