JUNO BEACH, Fla., Dec. 19, 2003 -- FPL Energy, LLC, said that it completed its acquisition of California wind power generation projects from Enron. The company acquired 106 megawatts (MW) of wind assets for $82 million.
Certain FPL Energy indirect subsidiaries purchased 100 percent of the assets of the 40-MW Cabazon and the 16.5-MW Green Power projects near Palm Springs. In addition, the company purchased Enron's 50 percent ownership interest in both the 77-MW Sky River and the 22-MW Victory Garden Phase IV projects. FPL Energy already owned 50 percent of both Sky River and Victory Garden Phase IV projects.
"We are pleased to complete this transaction and add these projects to our industry-leading portfolio," said Jim Robo, president of FPL Energy.
With the exception of the Green Power project, all of these projects sell 100 percent of their output to Southern California Edison under long-term contracts.
FPL Energy is a leading wholesale generator of clean energy, including natural gas, wind, solar, hydroelectric and nuclear. It is the nation's leader in wind energy with 37 wind facilities in operation in 14 states. FPL Energy has a generating portfolio of more than 10,000 net megawatts in operation with more than 2,500 megawatts coming from clean and renewable wind energy. It is a subsidiary of FPL Group, one of the nation's largest providers of electricity-related services with annual revenues of more than $9 billion. FPL Group's principal subsidiary is Florida Power & Light Company, one of the nation's largest electric utilities, serving more than 4 million customer accounts in Florida. Additional information is available on the Internet at http://www.FPLEnergy.com, http://www.FPLGroup.com and http://www.FPL.com.