GLASGOW-based utility group ScottishPower yesterday said that its PPM Energy subsidiary in the United States was planning to build two windfarms capable of generating a combined 175 megawatts of electricity.
Once completed in 2005,
the 75mw Klondike II project in Oregon and the 100mw Trimont windfarm in Min-
nesota are expected to be immediately earnings enhancing.
PPM also announced that it had signed a 15-year power supply agreement with electricity co-operative Great River Energy for all the Trimont output, while the output from Klondike II is also expected to be sold under a long-term agreement still being negotiated.
ScottishPower is investing $200m ((pounds) 112m) in the projects. The acquisition is in line with the company's strategy to invest (pounds) 1.1bn a year in windfarms and was welcomed as positive news by City investors.
Terry Hudgens, PPM's chief executive, welcomed the approval by the US Congress of a production tax credit which paved the way for the development. He said: ''This legislative action will further boost PPM's strong development, construction and energy supply options to meet customer demand for renewable energy throughout the country.''
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