Illinois power-purchase deal 'could be worth up to $300m'

The Illinois Municipal Electric Agency (IMEA) has signed a 20-year power-purchase agreement with NextEra Energy Resources. Theagreement may be worth as much as $300m, an agency official tells Recharge .



NextEra will supply the power from a 145-turbine wind farm about 70km west of Chicago. The deal is "our first foray into renewable-energy resource", says Phillip Mueller, vice-president of government relations and communications at IMEA. IMEA has 33 members that buy power from the agency. Its goal is to keep members' power costs low and to insulate them from high prices. The contract is a hedge against market price fluctuations and possible federal curbs on carbon emissions from coal-fired plants that provide the bulk of IMEA's generating capacity. Mueller…

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