Media Release Posted: 12/19/2014 – Lincoln Electric System’s website www.les.com
LINCOLN – Lincoln Electric System has finalized power purchase agreements to add 173 megawatts of wind energy and 5 megawatts of solar photovoltaic energy to its power supply resource portfolio by 2016. These projects will increase the utility’s equivalent renewable generation portfolio to 48 percent of LES’ retail energy.
Mayor Chris Beutler and Kevin Wailes, administrator & CEO of Lincoln Electric System, today announced this as one of the most aggressive renewable energy portfolios.
In addition to being environmentally friendly, the projects will also save customers money. “When viewed as a package, our wind and solar contracts are expected to save LES customer-owners approximately $429 million over the next 25 years,” said Wailes.
The wind additions are spread across two wind contracts secured with the same developer, Invenergy, and involve the 73 megawatt Prairie Breeze II Wind Energy Center, located in northeastern Nebraska, and 100 megawatt Buckeye Wind Energy Center, located in north-central Kansas. In August, LES issued a Request for Proposal for up to 200 megawatts of wind energy. LES received 15 responses encompassing a total of 105 distinct proposals. The selected projects will bring LES’ total wind portfolio to 304 MW.
“This is a very opportune time for LES to invest in more wind energy due to future uncertainties of federal Production Tax Credits for wind developers, potential additional regulations on power plant emissions, and the volatility of fossil fuel prices.” said Wailes.
The solar contract was in response to an LES survey which indicated customers were willing to support more local solar energy. LES implemented SunShares, a new program in partnership with customers to bring a community solar project to the Lincoln area.
The 5 megawatt solar array will be located about 75th and W. Holdrege Street, visible from Interstate 80. LES will leverage savings achieved through its wind agreements to help supplement customer participation in the LES SunShares program, which allowed LES to obtain optimal pricing for the solar project.
This project will provide LES with valuable solar operating experience and will be the largest solar installation in the state.