Geronimo Wind signs wind power deal with Xcel Energy

Geronimo Wind Energy announced today the signing of a long-term Renewable Energy Purchase Agreement with Xcel Energy for a total of 200 megawatts of wind energy to be generated at the Prairie Rose Wind Farm.

The Prairie Rose Wind Farm is a 200 megawatt wind energy facility in Rock and Pipestone Counties, Minn. The wind farm will consist of up to 125 wind turbines to be constructed across 25,000 acres of leased land. The energy generated from the project will power the equivalent of 60,000 homes. The wind farm will provide more than $2 million in annual tax revenues for the county, and will create an estimated 200 construction jobs. The completed wind farm project will result in the creation of 10 to 12 permanent jobs for operations and maintenance of the facility.

“We are pleased that we were able to continue our track record of bringing on wind resources that are cost competitive, even in this period of lower natural gas prices,” said Judy Poferl, president and CEO of Northern States Power Co.-Minnesota, an Xcel Energy company. “This project allows us to capture the benefit of federal tax credits set to expire at the end of 2012 and helps us meet aggressive renewable energy requirements economically.”

“We are very pleased to be partnering with Xcel Energy on the Prairie Rose Wind Farm and to bring the economic benefits of the project to its local residents and communities,” said Blake Nixon, President of Geronimo Wind Energy. He added that “we are also pleased to deliver clean and renewable power to Xcel Energy customers at a low and stable cost for the long term.”

Xcel Energy has filed the contract with the Minnesota Public Utilities Commission for approval. Construction on the project is expected to begin by the end of 2011 and will be completed by the end of 2012.

Geronimo Wind Energy (Geronimo) is a utility-scale wind energy developer based in Edina, Minnesota. Having developed two operating wind farms in Minnesota, Geronimo is developing a large pipeline of wind projects in various stages of development throughout the Midwestern United States. Geronimo has a strategic partnership with Enel Green Power North America, giving it the credibility and capital strength necessary to deliver on projects for customers and communities.

Xcel Energy (NYSE: XEL) is a major U.S. electricity and natural gas company with regulated operations in eight Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.4 million electricity customers and 1.9 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis.