SAN DIEGO, Sept. 17, 2009 – Sempra Generation, a subsidiary of Sempra Energy (NYSE: SRE), today announced it has become an equal partner with BP Wind Energy, a wholly owned subsidiary of BP (NYSE:BP), in the development of the 200-megawatt (MW) Fowler Ridge II Wind Farm in Benton County, Ind.
The Fowler Ridge II Wind Farm joint venture currently is under construction on a 17,000-acre site about 90 miles northwest of Indianapolis and is expected to be operational in the first quarter 2010. The 200-MW facility will produce enough electricity for approximately 60,000 homes.
The project’s entire power output already has been sold under four, long-term 50-MW contracts. Three contracts were signed with units of American Electric Power and, one, with Vectren Energy Delivery of Indiana for terms of 20 years each. The project will use 133 wind turbines, each with the ability to generate 1.5 MW.
The Fowler Ridge II development is an expansion of Fowler Ridge I, a 400-MW wind farm that commenced operations in March 2009. Combined, the two projects will comprise the Midwest’s largest wind farm, generating 600 MW, or enough clean energy to power about 180,000 homes.
“Fowler Ridge II will be our first operating wind-farm investment and expands our portfolio of renewable-energy assets,” said Michael Allman, president and chief executive officer of Sempra Generation. “This project will supply clean power to utilities in the region and strengthen Sempra Generation’s position as a national leader in sustainable energy development.”
In 2008, Sempra Generation completed the construction of North America’s largest thin-film solar power plant, El Dorado Solar. The plant is located near Las Vegas and is capable of generating 10 MW of solar energy. El Dorado Solar’s output is fully contracted with Pacific Gas & Electric (PG&E) for 20 years. An additional 48 MW of solar power is proposed adjacent to the El Dorado Solar site; PG&E also has contracted to purchase the output for 20 years. That contract is pending approval by the California Public Utilities Commission.
Sempra Generation operates and maintains a fleet of clean, efficient natural gas fueled power plants serving the U.S. market and is in the process of developing a solar and wind power projects in the Pacific Southwest.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2008 revenues of nearly $11 billion. The Sempra Energy companies’ 13,600 employees serve more than 29 million consumers worldwide.
This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words like “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “may,” “would,” ”could,” “should,” or similar expressions, or discussions of strategies, plans or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: local, regional, national and international economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, California State Legislature, California Department of Water Resources, Federal Energy Regulatory Commission, Federal Reserve Board, and other regulatory and governmental bodies in the United States, the United Kingdom and other countries; capital market conditions and inflation, interest and exchange rates; energy and trading markets, including the timing and extent of changes and volatility in commodity prices; the availability of electric power, natural gas and liquefied natural gas; weather conditions and conservation efforts; war and terrorist attacks; business, regulatory, environmental and legal decisions and requirements; the status of deregulation of retail natural gas and electricity delivery; the timing and success of business development efforts; the resolution of litigation; and other uncertainties, all of which are difficult to predict and many of which are beyond the control of the company. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system without charge at the SEC’s Web site, www.sec.gov and on the company’s Web site, at www.sempra.com.
Sempra Pipelines & Storage, Sempra Generation, Sempra LNG and Sempra Commodities are not the same companies as the utility, San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra Pipelines & Storage, Sempra Generation, Sempra LNG and Sempra Commodities are not regulated by the California Public Utilities Commission.