Yesterday, a deal was announced in Oklahoma to deliver low-cost, homegrown wind energy from two newly developed wind projects to thousands of Oklahoma consumers. TradeWind Energy, Inc. and the Grand River Dam Authority (GRDA), an agency whose mission is to “provide low-cost, reliable electric power” to Oklahoma customers, entered into long-term renewable energy purchase agreements that will provide enough energy for the equivalent of 65,000 Oklahoma homes.
GRDA CEO and Director of Investments Dan Sullivan said, “The addition of these wind projects will help bring the diversity we need…the fuel options we will have in the future will continue to serve our customers well with reliability and affordability.”
These new projects are expected to pay approximately $50 million to landowner partners and generate in excess of $30 million in property taxes over the next 20 years. They will also create 20 full-time jobs and require 300 construction jobs to build.
The GRDA deal adds to the growing body of evidence of utilities choosing to incorporate wind power as a low-cost, reliable fuel source. For example, in announcing three-long-term wind power contracts in February 2014, the Public Service Company of Oklahoma (PSO) reported the move could reduce costs for customers by $53 million within the first year.
To learn more about wind power’s benefits for consumers and the reasons why utilities know wind power is a good deal for their customers, visit our consumer benefits report here.