Edison, BP unite to deliver 90 MW of wind power
Southern California Edison is pursuing a 20-year contract to buy and distribute power generated by a BP Wind Energy-backed 90-megawatt wind farm in Idaho. The agreement is pending approval by the California Utilities Commission, the Wall Street Journal reports.
As part of the deal, the Edison International subsidiary would be able to purchase the energy for below market price (about 11.4 cents per kilowatt hour) — but transmitting it to California could raise the costs.
The wind… Continue Reading
Invenergy bucks wind power’s slump with new $30M
Invenergy, a Chicago-based developer of large-scale wind power generation facilities, just closed on a $30 million convertible note from Leaf Clean Energy only weeks after raking in $250 million in capital from several other venture firms. The company has also landed tax equity to finance five wind farms in the U.S. with the potential to generate 603 megawatts of power. (Tax equity is money that banks and firms invest in companies — including many renewable… Continue Reading