Arizona to Get Wind Farm - Enough to Power 15,000 Homes for $100 Million - PhoenixCEOCFO.com

Arizona to Get Wind Farm - Enough to Power 15,000 Homes for $100 Million

Salt River Project (SRP) has agreed to buy the entire energy output for 20 years from Arizona's first wind farm, the Dry Lake Wind Project. The project is being developed by Portland-based Iberdrola Renewables, a global energy company with headquarters in Spain. The $100 million plant is expected to produce 63 megawatts of electricity, which should be enough power for 15,000 homes.

Iberdrola Renewables plans to install 40 to 50 turbines; each one would be over 300 feet tall and have the capability to produce 1.5 megawatts or more. The plant would cover 6,000 acres of private and public land, located 18 miles northwest of Snowflake. Construction will start in 2009 and take 9 to 12 months. The environmental benefit of the project will be reduction of 185 million pounds of carbon dioxide into the atmosphere each year, which is equivalent to removing 15,000 cars from the road.

John Coggins, SRP Manager of Resource Planning and Development told the Arizona Republic that Arizona, as compared to some other states, doesn't have the best wind profile. Yet SRP's Board of Directors has imposed a goal of using 15% renewable resources for its energy needs. SRP is the third-largest public power utility in the nation, serving more than 935,000 electric customers in the greater Phoenix metropolitan area.

John Laub is the Chairman of the Phoenix CEO-CFO Group.

1. "Iberdrola Renewables Announces One of Arizona's First Wind Power Projects." Business Wire. Company Press Release. July 28, 2008.

2. "Arizona To Get 1st Wind-Power Farm. $100 Million Project Near Snowflake Will Begin Next Year." Ryan Randazzo. The Arizona Republic. July 29, 2008.