Austin approves $558m wind deal

The city council in Austin, Texas, has approved an 18-year, $558m power purchase agreement proposed by its municipal utility and developer Lincoln Renewable Energy

Under the 300MW contract, Austin Energy would purchase $31m a year of electricity that Lincoln would supply from the Hereford 2 wind farm it is developing in northwest Texas. The facility is scheduled to enter service in fourth quarter 2015.

The contract would replace an earlier one for 170MW that Austin Energy had sought to finalize with developer E. ON Climate and Renewables North America. The city council approved it in June, but E. ON exited the agreement citing finance and tax issues, according to Austin Energy spokesman Carlos Cordova.

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