Clipper Windpower project sold to Constellation for $140 million

Clipper Windpower’s first wind project was acquired recently by Baltimore-based Constellation Energy for $140 million. The wind turbine project, situated in Western Maryland’s Garrett County, has the capacity to generate 70MW of energy.

Constellation said that it has already accepted to buy the project from Clipper Windpower. According to the Baltimore-based energy firm, the acquisition also includes 28 of Clipper’s 2.5MW wind turbines.

Constellation is preparing to develop and operate the Criterion complex that is expected to produce electricity for approximately 23,000 households. The wind project was Maryland’s first programme to obtain state regulatory approval under 2007’s wind energy law.

Lawrence McDonnell, spokesman for Constellation Energy, said that the company is currently pursuing for similar renewable energy projects in Maryland. Several projects currently under Constellation include McCormick’s solar photovoltaic system, which generates 1MW of power, and a 300KW solar panel system used by the Maryland Environmental Service.

Meanwhile, the Old Dominion Electric Cooperative, a non-profit energy company, has an existing 20-year power procurement contract for the Criterion project’s electricity and renewable energy credits. The electricity supplier provides wholesale electricity to public electric cooperatives based in Maryland, Delaware and Virginia.

A statement from the Chairman, President and CEO of Constellation, Mayo Shattuck III, said that the company is committed on its pledge in pursuing clean energy conservation and production projects in Maryland. Four per cent of Constellation’s power comes from renewable or alternative energy supplies, such as  solar, geothermal, hydro and biomass. Constellation has five nuclear reactors, including two facilities in Calvert Cliffs, which could generate over half of its needed 7.1GW capacity.