EDF Energies Nouvelles has announced that its U.S. subsidiary, enXco, and Indianapolis Power & Light (IPL) have reached an agreement to proceed with the 201 MW Lakefield Wind Project.
The original power purchase agreement (PPA) between enXco and IPL for the Lakefield project was signed in June 2009. The PPA received approval by the Indiana Utility Regulatory Commission in January. In March, however, IPL terminated the PPA. As a result, enXco initiated arbitration against IPL. Subsequently, IPL and enXco addressed IPL's concerns and resumed the PPA as originally agreed.
The agreement allows the project to continue as initially planned, with a revised project schedule anticipating commercial operation in 2011.
The Lakefield Project, to be built in southwestern Minnesota, represents the second PPA between the two companies. The Hoosier Wind Project in Indiana is in operation and provides IPL with approximately 2% of the electricity sold to its retail customers. When Lakefield is operational, IPL anticipates wind energy will provide power for about 7% of its utility sales.
SOURCE: EDF Energies Nouvelles