The companies will each invest $55m in the 102MW Alta IV phase of AWEC located in the Tehachapi region, while Citi has underwritten the equity financing for Alta projects II-V, totaling 570MW.
The first five Alta projects with a combined capacity of 720MW are now complete and supplying power to the grid representing a 25% increase in the installed wind capacity for California.
Construction of another 300MW facility is expected to be complete by the end of this year, bringing AWEC’s capacity to 1,020MW.
Southern California Edison will purchase the electricity generated by AWEC under a power purchase agreement signed in 2006.
Upon completion, the AWEC facility will generate enough electricity to power 450,000 homes in California and reduce the carbon emissions by 52 million metric tons.
The new transmission line developed as part of the 4,500MW Tehachapi renewable transmission project will be used by the Alta projects to transport the power from the Tehachapi region to Southern California and other regions.
