sPower, a leading renewable energy provider headquartered in Salt Lake City, announced today that its first wind project, the Latigo Wind Park, is now fully operational and has closed on its long-term financing plan.
Located in San Juan County in Southeastern Utah, major construction of the 60 megawatt wind farm was completed in December 2015. Since December, the turbines have undergone various commissioning tests and are now operating at full capacity. The clean electricity that Latigo generates will be provided to PacifiCorp under a 20-year power purchase agreement.
“We are excited that the Latigo Wind Park has achieved commercial operation and would like to thank the residents of Monticello and the surrounding areas for helping us reach this important milestone,” said Ryan Creamer, sPower CEO.
The Latigo project “comes on the heels of a recent $175 million drop in the assessed value of San Juan County properties,” according to the February 17, 2016 edition of the San Juan Record.
“sPower is proud to be the sponsor of the largest private investment on private land in San Juan County history. Latigo will contribute millions in tax revenues to the county over the life of the project. And its close proximity to the brand new Four Corners School of Outdoor Education will support economic development efforts in the region,” continued Creamer.
sPower is currently building another wind farm, the Pioneer Wind Park, in Glenrock, WY, just outside of Casper. The company has announced plans to bring online more than 700 megawatts of renewable energy projects before the end of the year.About sPower: sPower, an AES and AIMCo company, is the largest private owner of operating solar assets in the United States. sPower owns and operates a portfolio of solar and wind assets greater than 1.5 GW and has a development pipeline of more than 10 GW. sPower is owned by a joint venture partnership between The AES Corporation (NYSE: AES), a worldwide energy company headquartered in Arlington, Virginia, and the Alberta Investment Management Corporation, one of Canada’s largest and most diversified institutional investment fund managers.