DTE confirms Pheasant Run II deal
Utility DTE Energy has exercised its option to purchase the 75MW Pheasant Run II wind farm in eastern Michigan from a subsidiary of NextEra Energy Resources.
Terms of the transaction were not made public.
The state’s largest utility by revenue will rename the facility Brookfield Wind Park. It began operations earlier this year and will be shut down for one to two weeks to accomplish the ownership transition and convert the communication infrastructure.
The Brookfield Wind Park purchase is part of DTE Energy's efforts to expand its renewable energy resources and meet the state's renewable mandate. By 2015, the utility will have almost 1GW of renewable energy assets, equivalent to 10% of its power sales.
DTE Energy plans to own facilities to supply up to half of that 10% and contract with third-party producers, such as NextEra Energy Resources, for the rest. Most of that power will come from wind resources.