SAN DIEGO, Nov. 1, 2010 – Sempra Generation, a subsidiary of Sempra Energy (NYSE: SRE), today announced it has become an equal partner with BP Wind Energy in the development of the Cedar Creek II Wind Farm in Colorado.
The project currently is under construction near New Raymer, about 90 miles northeast of Fort Collins. The 250-megawatt (MW) facility, which is expected to be operational in June 2011, will produce enough clean electricity for approximately 75,000 average homes.
The project’s entire power output already has been sold under a 25-year power- purchase agreement to Public Service Company of Colorado, an Xcel Energy company.
“Cedar Creek II is a strategic addition to our growing renewable portfolio in the Western U.S.,” said Jeffrey W. Martin, president and chief executive officer of Sempra Generation. “This project advances our leadership in sustainable energy development. We look forward to providing a new supply of emission-free electricity to Colorado residents, produced with some of the finest wind resources in the country.”
The project will employ approximately 350 construction workers at peak and more than a dozen full-time positions to operate the facility.
This is the second wind power joint venture between BP Wind Energy, a wholly owned subsidiary of BP, and Sempra Generation. The companies are equal partners on the 200-MW Fowler Ridge II Wind Farm in Indiana.
Sempra Generation also is expected to complete construction on the largest photovoltaic solar power facility in the U.S. later this year. The 48-MW Copper Mountain Solar project near Las Vegas is adjacent to Sempra Generation’s existing 10-MW El Dorado Solar plant. The combined 58-MW solar installation will utilize nearly 1 million thin-film photovoltaic solar panels to generate electricity that is sold to Pacific Gas and Electric Company under separate 20-year power-purchase agreements.
Sempra Generation operates and maintains a fleet of natural gas-fueled power plants, and is a leading developer of solar and wind facilities that serve U.S. markets. Sempra Energy (NYSE: SRE), based in San Diego, is a Fortune 500 energy services holding company with 2009 revenues of more than $8 billion. The Sempra Energy companies’ 13,600 employees serve about 25 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.
The Cedar Creek II Wind Farm joint venture is owned in part by Cedar Creek II Wind Energy, LLC, and the 200-MW Fowler Ridge II Wind Farm is owned in part by Fowler Ridge II Wind, LLC. The Copper Mountain Solar facility is owned and operated by Copper Mountain Solar I, LLC, and the El Dorado Solar plant is owned and operated by El Dorado Energy, LLC. All LLC companies are subsidiaries of Sempra Generation.
Sempra Generation is not the same company as the utility, San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra Generation is not regulated by the California Public Utilities Commission.