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Edison Mission Group To Develop Wind Energy Projects in Midwest
IRVINE, Calif. --(Business Wire)-- Nov. 1, 2005 -- Edison Mission Group Inc. (EMG), a subsidiary of Edison International (NYSE:EIX), announced it has entered into a joint development agreement with Midwest Wind Energy, LLC, of Chicago, to provide funding and other support to advance a series of Midwest Wind Energy's projects, which EMG plans to own and operate when completed.
EMG is the parent of Chicago-based independent power producer Midwest Generation, which operates about 5,600 megawatts (MW) of coal-fired capacity at six power plants in Illinois.
Midwest Wind Energy is a leading utility-scale wind power development company with a current project portfolio of over 700 MW.
"We are especially pleased to strike this agreement in the Midwest, where we already have a strong presence with Midwest Generation," said Edison Mission Group CEO Ted Craver. "Illinois Governor Rod Blagojevich and Wisconsin Governor Jim Doyle have advanced sustainable energy plans that include specific targets for expanding the use of wind and other renewable sources of energy over the next several years. That's a compelling signal to developers that Illinois and Wisconsin can be attractive places to invest in renewables."
"This joint development agreement combines Midwest Wind Energy's project development expertise with the considerable financial and development resources of the Edison Mission Group," said Stefan Noe, president of Midwest Wind Energy. "That's a powerful formula for success."
Edison Mission Group has acquired a wind energy portfolio of 318 megawatts at nine projects in Iowa, Minnesota and New Mexico. The company has targeted a portfolio of up to 1,200 MW of wind power by 2009.
Related facts
-- Other EMG wind energy projects: -0- *T Name State Generating Capacity (MW) Bingham Lake MN 15 Eastridge MN 10 Lakota Ridge MN 11 San Juan Mesa NM 120 Shaokatan Hills MN 12 Storm Lake IA 113 West Pipestone MN 9 Westridge MN 18 Woodstock Hills MN 10 *T
Note: One MW is enough power for approximately 650 average homes.
Edison Mission Group is a subsidiary of Rosemead, Calif.-based Edison International (NYSE:EIX) an electric power generator and distributor, and an investor in infrastructure and renewable energy projects with assets totalling more than $33.6 billion. The EMG wind projects referred to above are owned by Edison Capital.
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