SPOKANE, Wash., May 8 // -- Avista (NYSE: AVA) has acquired the rights to develop a 50-megawatt (MW) wind farm near Reardan, Wash. taking an important step in implementing the company's 2007 Electric Integrated Resource Plan (IRP). The plan identified the acquisition of 300 MW of wind by 2017.
Development of wind resources at the Reardan site meets new renewable standards for electric generation and continues Avista's long history of renewable resource development.
"The energy generated from this project is an additional step toward meeting the company's renewable resource targets, and will help Avista satisfy the renewable resource requirements under the Washington State Energy Independence Act," said Scott Morris, Avista chairman, president and CEO.
The Reardan site is within Avista's service territory and close to the company's transmission lines. Proximity to the company's transmission system makes the development more attractive than building outside the service area.
The Reardan project's average generation is expected to be about 15 MW, enough for 11,250 homes in Avista's service territory. At its full capacity of 50 MW, the Reardan project would provide power to about 37,500 homes.
Avista is committed to securing a responsible mix of resources to serve customers' growing energy needs. The company's preferred resource strategy is to invest in clean energy for the future while maintaining reliable sources of energy such as hydropower and natural gas.
Avista currently purchases up to 35 MW of wind power from The Stateline Wind Project near Walla Walla, Wash and is investigating other potential wind energy sites in and around its service area.
About Avista Corp.
Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides service to 352,000 electric and 311,000 natural gas customers in three Western states. Avista's primary, non-regulated subsidiary is Advantage IQ. Our stock is traded under the ticker symbol "AVA." For more information about Avista, please visit http://www.avistacorp.com/. Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation. All other trademarks mentioned in this document are the property of their respective owners.
This news release contains forward-looking statements regarding the company's current expectations. Forward-looking statements are all statements other than historical facts. Such statements speak only as of the date of the news release and are subject to a variety of risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the expectations. These risks and uncertainties include, in addition to those discussed herein, all of the factors discussed in the company's Annual Report on Form 10-K for the year ended Dec. 31, 2007, and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2008.
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