Texas utility buys into North Iowa Wind Farm
Published 12:00 am Friday, January 18, 2002
The Top of Iowa Windfarm, located along Interstate 35, just south of the Iowa-Minnesota border, has been sold.
Friday, January 18, 2002
The Top of Iowa Windfarm, located along Interstate 35, just south of the Iowa-Minnesota border, has been sold. The purchase was announced Jan. 14.
Houston, Texas-based Entergy Corporation has purchased majority ownership of the 80 megawatt wind farm for an undisclosed amount from Zilkha Renewable Energy, another Houston-based company, and its partner, Midwest Renewable Energy Corporation.
The purchase of northern Iowa wind farm marks Entergy’s entry into the renewable energy marketplace. They see renewable energy as good for business because it can be profitable, and because it is environmentally friendly.
As part of the transaction, Zilkha and Midwest will retain a long-term minority ownership in the project. Zilkha will continue to manage and operate the project.
In February 2001, Alliant Energy signed a long-term contract to purchase 100 percent of the project’s energy output, which is enough to supply approximately 25,000 homes. Wind Power In Line with Entergy Environmental Stance
&uot;This project provides Entergy with an attractive entry vehicle into the wind energy business. All parties involved in developing and building this project – Atlantic Renewable, Zilkha, Iowa officials and Worth County officials and residents – have done an outstanding job of making this renewable energy project a reality. We are especially pleased that Zilkha and Midwest will partner with Entergy in this project long term. The Top of Iowa Windfarm is good for consumers, the environment and both companies,&uot; said Geoff Roberts, president and CEO of Entergy’s independent power development business unit
&uot;We are pleased to be working with Entergy to bring renewable energy to consumers and help improve the environment. This project is part of Zilkha’s ongoing business of developing, operating and owning assets,&uot; added Michael Zilkha, who along with his father, Selim Zilkha, is a principal of Zilkha Renewable Energy
The Top of Iowa Windfarm, located across 5,500 acres, contains 89 NEG Micon turbines, which each can produce 900 kilowatts of power. The turbines are sited on agricultural property owned by 52 landowners and are positioned to gain maximum benefit from the area’s year ’round, consistent wind.
More information about Entergy can be found online at www.entergy.com.