If you've no account register here first time
User Name :
User Email :
Password :

Login Now

Fortis Buys Wind Energy Hedge

Fortis Merchant and Private Banking has signed a 1.1 million megawatt, ten year financial fixed price power purchase agreement with Snyder Wind Farm, a subsidiary of Enel North America. The agreement is designed to provide Snyder with greater revenue stability for the term of the hedge and to accommodate wind seasonality.

Based on an industry estimate of $50 to $80 per megawatt hour, the transaction carries a price of up to $80 million, marking the latest in a big boom in wind projects around the country, MarketWatch reports.

The agreement begins in 2008 and runs through February 2018. Fortis Energy Marketing & Trading, a division of Fortis Merchant and Private Banking, structured the transaction. 

The nearly-completed Snyder Wind Farm is a 63 megawatt project that consists of twenty-one Vesta V90s turbines, located in Snyder County, Texas. Enel North America currently operates over 400 megawatts of wind, hydropower, geothermal and biomass projects. 

Environmental Leader Product & Project Awards 2018
Sponsored By: Environmental Leader

  
Just the Facts: 8 Popular Misconceptions about LEDs & Controls
Sponsored By: Digital Lumens

  
GHS Label Guide
Sponsored By: VelocityEHS

  
Top 10 Steps for a Successful EMIS Project
Sponsored By: Sphera Solutions

  

Leave a Comment

Translate »