According to a recent press release Sumitomo Corporation of America (SCOA), which is a part of Tokyo-based Sumitomo Corporation, will join in an even 50-50 partnership with Duke Energy Renewables to operate two large-scale green alternative energy wind farms which Duke is building in Kansas.
The joint partnership includes the 131-megawatt (MW) wind power plant known at the Cimarron II Windpower Project in Gray County and the 168-MW Ironwood Windpower Project in Ford County.
According to Duke Energy Renewables, a commercial business unit of Duke Energy (NYSE: DUK), the two companies are scheduled to complete construction of both wind farms later this year. The routine on-site operations of both wind farms will be performed by Duke Energy Renewables while SCOA will take on an active role in management of the projects.
“Forging this new strategic partnership with Sumitomo – a strong global company – helps Duke Energy Renewables manage its capital deployment effectively and fuel continued growth in its wind and solar power businesses,” said Duke Energy Renewables President Greg Wolf.
“We are pleased to join together with such a strong partner as Duke Energy,” said Masao Miyamoto, vice president and head of SCOA’s Power and Telecom Business. “This joint venture marks another step in the evolution of Sumitomo’s renewable energy business strategy, as we take a more active role in wind and other renewable projects. We will continue to look for opportunities where we can leverage our experience as a leading developer and a long-term strategic investor in high-quality renewable energy projects in the advanced development phase.”
Kansas City Power & Light has contracted with the energy companies to purchase all of the electricity and associated renewable energy credits (RECs) produced by Cimarron II under the terms of a 20-year agreement. The green energy and energy credits produced from the Ironwood wind farm are under a 20-year purchase agreement fromWestar Energy.
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