Madison Gas and Electric (MGE) has signed an agreement to build and own 30 MW of renewable energy at a wind farm complex near Mason City, Iowa. The agreement will increase MGE's wind power portfolio by nearly four times.
The Top of Iowa Phase II wind energy project is being developed by Midwest Renewable Energy Projects LLC (MRE Projects). MGE will invest $56 million in the project, which is expected to go online in the last quarter of 2007. With this purchase, the company will power about 5% of its annual energy demand using renewable energy sources. The project will provide enough electricity to supply about 12,000 homes annually.
‘This additional wind power allows MGE to meet its commitment under Wisconsin's renewable portfolio standard three years ahead of the 2010 deadline,’ says Scott Neitzel, vice president, energy supply. ‘We anticipate regulatory approval for our project the first part of next year.’
MGE generates and distributes electricity to nearly 136,000 customers in Dane County and purchases and distributes natural gas to more than 137,000 customers in seven south-central and western Wisconsin counties.