In related news, the Public Service Commission of Wisconsin approved Wisconsin Public Service purchase of the facility
GREEN BAY, Wisc. and ESCONDIDO, Calif., April 22 /PRNewswire/ — Wisconsin Public Service Corporation (WPSC), a subsidiary of Integrys Energy Group, Inc. (NYSE:TEG) , and enXco, an EDF Energy Nouvelles company based in California, agreed to terms of a transaction in which WPSC will purchase a 99-megawatt wind farm to be constructed near Riceville in Howard County, Iowa, by enXco. The Crane Creek wind project is expected to cost $251 million for acquisition and construction-related activities with closing of the sale to occur in the third quarter of 2008.
On Friday April 18, 2008, the Public Service Commission of Wisconsin (PSCW) approved the purchase by a 3-0 vote. On the same day, enXco received Board of Director approval, clearing the way for the parties to sign agreements finalizing commercial terms and conditions for the construction and sale of the project to WPSC.
The final transfer of development rights to WPSC will be subject to the cost of project interconnection to the transmission system based on a facility study yet to be completed by the Midwest Independent System Operator. It is also subject to standard real estate closing procedures associated with the transfer of easement rights from private landowners that allow construction and operation of the project.
“We are confident that remaining milestones will be met with success,” said Rob Benninghoff, WPSC’s Director — Renewable and Special Projects. “The schedule is in place to begin construction late in 2008 or early in 2009. The wind farm should be operational late in December 2009, helping WPSC to reach its state-mandated Renewable Portfolio Standard (RPS) target of generating 10% of its retail electrical sales with renewable power by 2015.”
“enXco is very pleased to be developing and constructing this project for WPSC,” said Steve Peluso, Director or the Midwest Region for enXco. “This is a culmination of a great cooperative effort by all involved and we look forward to working with the community as we move into the construction phase of the project.”
Forward Looking Statement:
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. You can identify these statements by the fact that they do not relate strictly to historical or current facts and often include words such as “anticipate,” “expect,” “intend,” and other similar words. Forward-looking statements are beyond the ability of Integrys Energy Group to control and, in many cases, Integrys Energy Group cannot predict what factors would cause actual results to differ materially from those indicated by forward-looking statements. Please see Integrys Energy Group’s periodic reports filed with the Securities and Exchange Commission (including its 10-K and 10 Qs) for a listing of certain factors that could cause actual results to differ materially from those contained in forward-looking statements.
About Wisconsin Public Service Corporation:
Wisconsin Public Service Corporation, a wholly owned subsidiary of Integrys Energy Group, Inc. (NYSE:TEG) , is an investor-owned electric and natural gas utility headquartered in Green Bay, Wisconsin. It serves approximately 420,000 electric customers and 309,000 retail natural gas customers in residential, agricultural, industrial, and commercial markets, as well as wholesale customers. The company’s service area includes northeastern and central Wisconsin, as well as an adjacent portion of Upper Michigan. Information is available online at http://www.wisconsinpublicservice.com/.
About enXco Development Corporation
enXco Development Corporation, a subsidiary of enXco, inc. (http://www.enxco.com/) an EDF-EN Company (http://www.edf-en.com/) develops, operates and manages wind-energy projects throughout the United States. Since 1987, enXco has grown to be a significant owner and developer of wind-energy installations in the US and is the largest third-party O&M provider for wind parks, currently servicing more than 3600 turbines (1500 MW).
First Call Analyst:
FCMN Contact:
Source: Wisconsin Public Service Corporation
CONTACT: Rob Benninghoff, WPSC Director, Renewable and Special Projects,
+1-920-433-1128; or Sandra Briner, Marketing Manager of enXco,
+1-760-740-7022, ext. 140
Web site: http://www.wisconsinpublicservice.com/
http://www.enxco.com/
