Florida regulators on Oct. 11 approved cost recovery of apower purchase agreement between GulfPower Co. and MorganStanley Capital Group Inc. associated with the output of anOklahoma wind farm.
Under the deal, Morgan Stanley will deliver to Gulf Powerthe equivalent monthly output from a 94-MW portion of the 298-MW Wind Farm. TheSouthern Co.subsidiary expects the agreement to save customers $21 million over its 20-yearlife. Gulf Power will receive all renewable attributes, including renewableenergy credits, related to the output of Kingfisher, and the utility willreturn any proceeds from REC sales to customers through its fuel charge.
Gulf Power and Morgan Stanley of the deal from theFlorida Public Service Commission June 27. In May 2015, the Florida PSCapproved a deal for Gulf Power to receive 178 MW from Kingfisher turbines thatbegan commercial operation in December 2015. (Florida Docket No. 160158-EI)