The project received the approval of the Indiana Utility Regulatory Commission (IURC) on January 27, 2010. The IURC’s order was consistent with similar past orders. IPL has purported to unilaterally terminate the power purchase agreement on the basis of this order without providing further specific reasons.
enXco is considering its rights and remedies within the framework of the PPA. In addition, the Company is currently analyzing several options, including re-marketing the project to one or several other utilities.
Consistent with EDF Energies Nouvelles policy, construction has not yet started. The 2012 operational objective of 4,200 MW net and 2010 objective of EBITDA will not be impacted by the Lakefield wind farm project evolution.
With operations in Europe and North America, EDF Energies Nouvelles is a market leader in green electricity production. With a development focused on wind energy for several years and more recently on solar photovoltaic, the Group is also present in other segments of the renewable energies market: small hydro, marine energy, biomass, biofuel and biogas.
In addition, the Group is expanding in the distributed renewable energies sector. EDF Energies Nouvelles, 50 %-owned by the EDF Group, is listed in Euronext Paris since November 2006 (code "EEN", ISIN code: FR0010400143).