RES America Developments, a subsidiary of Renewable Energy Systems Americas, has inked an agreement Xcel Energy to develop the 200MW Pleasant Valley Wind Farm in Minnesota, US.
As per the agreement, RES will don the role of developer and constructor of Pleasant Valley and will eventually transfer the ownership of the project to Xcel after the completion of the project.
RES Americas president and CEO Susan Reilly said the company is delighted to again collaborate with Xcel in its efforts to add more 200MW of affordable and clean energy to the region.
"This is an excellent example of the realized benefits of the Production Tax Credit. This project will generate clean, renewable energy, and provide one of the lowest cost power resources currently available in the region," added Reilly.
Xcel Energy chairman, president and CEO Ben Fowke noted: "Wind power is simply the cheapest resource available right now, and we are taking the opportunity afforded by the PTC extension to further shape our systems for the future."
The project is part of 600MW of wind power projects that Xcel Energy has committed in Upper Midwest service territory in the US state.
The development and construction is expected to be completed by the end of 2015 with plans to break ground in mid-2014.