Duke Energy Renewables and Sumitomo Corp. of America (the US subsidiary of Sumitomo Corp.) have announced the companies have finalised their 50-50 ownership arrangement for two Kansas wind farms and secured approximately US$ 353 million in financing for construction and operating costs.
Duke Energy Renewables announced plans on March 27 to sell a 50 per cent stake in the 131MW Cimarron II Windpower Project in Gray County and the 168MW Ironwood Windpower Project in Ford County to Sumitomo. The companies will complete construction of both wind farms later this year. Both the Cimarron II and Ironwood projects have long-term contracts in place to sell the electricity they generate. Kansas City Power & Light will purchase all of the electricity and associated renewable energy credits (RECs) produced by Cimarron II under the terms of a 20-year agreement. Westar Energy will buy all the power and RECs produced by the Ironwood wind farm through a 20-year agreement.
Duke Energy Renewables announced plans on March 27 to sell a 50 per cent stake in the 131MW Cimarron II Windpower Project in Gray County and the 168MW Ironwood Windpower Project in Ford County to Sumitomo. The companies will complete construction of both wind farms later this year. Both the Cimarron II and Ironwood projects have long-term contracts in place to sell the electricity they generate. Kansas City Power & Light will purchase all of the electricity and associated renewable energy credits (RECs) produced by Cimarron II under the terms of a 20-year agreement. Westar Energy will buy all the power and RECs produced by the Ironwood wind farm through a 20-year agreement.
