20-year agreement for entire 200 MW capacity; Construction anticipated in 2021
JACKSON COUNTY, Minnesota, June 4, 2019 /PRNewswire/ -- Scout Clean Energy ("Scout"), is pleased to announce the completion of a Power Purchase Agreement (PPA) with Minnesota Municipal Power Agency (MMPA) for the purchase of 200 megawatts (MW) of renewable energy from the Three Waters Wind Farm ("Three Waters") in Jackson County, Minnesota.
The project calls for the installation of up to 71 2.82 MW GE wind turbines to be located across approximately 45,000 acres in Jackson County.
"We are excited to announce our agreement with Minnesota Municipal Power Agency to purchase power from the Three Waters Wind Farm," said Michael Rucker, CEO and founder of Scout Clean Energy. "MMPA has agreed to purchase the entire capacity that will be generated by the Three Waters Wind Farm. The project distinguishes MMPA as a renewable energy leader in Minnesota."
"This purchase of renewable energy contributes to MMPA's renewable portfolio and reduces MMPA's carbon footprint in a cost-effective manner," said Oncu Er, Chief Operating Officer of Avant Energy, Inc., MMPA's management partner.
The project is expected to begin construction in 2021 with an anticipated in-service date of late 2021. Three Waters is being developed and will be owned and operated by Scout Clean Energy. Scout is a portfolio company of Quinbrook Infrastructure Partners a leading private equity infrastructure fund.
"The agreement with MMPA for the Three Waters Wind Farm is an important step for the project," explained Rucker. "We hope that working together we will help bring this economic benefit to Jackson County."
About Minnesota Municipal Power Agency
The Minnesota Municipal Power Agency (MMPA) provides wholesale electricity to twelve member communities, which in turn deliver and sell power to their residential and business customers. Members include municipal utilities in Anoka, Arlington, Brownton, Buffalo, Chaska, East Grand Forks, Elk River, Le Sueur, North St. Paul, Olivia, Shakopee, and Winthrop. MMPA's management partner is Avant Energy, a Minneapolis-based energy management company and an innovative supplier of energy project development, management, trading, consulting, and utility operations services.
About Scout Clean Energy
Scout Clean Energy is a renewable energy development company headquartered in Boulder, Colorado. Scout is developing a 2,400 MW portfolio of wind energy projects across 10 US states. Scout is an owner-operator with expertise in all aspects of wind development, permitting, power marketing, finance, construction and asset management. Scout is a portfolio company of Quinbrook Infrastructure Partners.
About Quinbrook Infrastructure Partners
Quinbrook Infrastructure Partners is a specialist investment manager focused exclusively on lower carbon and renewable energy infrastructure investment and operational asset management in the US, UK and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested over US$ 17 billion in energy infrastructure assets since the early 1990's, representing over 30GW of power supply capacity. Quinbrook's investment and asset management team has offices in Houston, London, Jersey, and the Gold Coast of Australia. Quinbrook has completed multiple investments in both utility and distributed scale wind power, gas fired power reserve and 'smart grid' projects in the US, UK and Australia and currently manages Cape Byron Power (www.capebyronpower.com), one of Australia's largest base-load 100% renewable power generators.
SOURCE Scout Clean Energy