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Oklahoma utility signs 20-year deals for 600 MW of wind power

Highlights

Public Service Co. of Oklahoma on Thursday said it had entered into three 20-year contracts to buy nearly 600 MW of wind power from a request for proposals it issued in June.

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In the June solicitation, PSO, an American Electric Power subsidiary, had sought proposals for up to 200 MW. The utility in a statement said it decided to triple that amount because of "extraordinary pricing opportunities that will lower costs for PSO customers by an estimated $53 million in the first year of the contracts."

It added that "annual savings are expected to grow each year over the lives of the contracts." It did not disclose any pricing details.


PSO said the deals were signed for 199.8 MW from Apex Clean Energy's planned Balko wind farm in Beaver County, Oklahoma, 198.9 MW from NextEra Energy Resources' Seiling wind project in northwestern Oklahoma and a 200-MW deal involving TradeWind Energy's planned Goodwell wind farm in Texas County, Oklahoma.

PSO said that the contract must be approved by the Oklahoma Corporation Commission and that the wind farms will begin delivering power to the utility by January 1, 2016.

--Housley Carr, newsdesk@platts.com
--Edited by Jeff Barber, jeff.barber@platts.com