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PPM gains East Coast connection -- Buys developer

PPM Energy, the second largest wind developer in the United States, enlarged its reach to the East Coast with the acquisition of Atlantic Renewable Energy Corporation, based in Richmond, Virginia. Atlantic Renewable, now a wholly owned PPM subsidiary known as PPM Atlantic Renewable, has more than 500 MW of wind development in its pipeline, all onshore on the eastern seaboard and all to be completed by 2010.

PPM Energy, a Portland, Oregon-based subsidiary of Scottish Power, closed the deal December 29. PPM has more than 830 MW of purchased or owned wind generation in the West and Midwest and a goal to have 2300 MW by 2010. It has been looking to transplant its business model to the East Coast and to gain an experienced partner in the region, says PPM's Anita Marks. The northeast US, where Atlantic Renewable has been working, has some of the most robust state renewable energy standards (RES) in the nation, including the New York RES, which calls for 25% of energy sales to come from renewable energy by 2013 (Windpower Monthly, December 2004). In addition, green tags from wind projects in the region bring some of the highest prices in the nation, she says.

"Atlantic Renewable has significant expertise in wind project development, permitting and political and regulatory affairs," says Peter van Alderwerelt, senior vice president of PPM. "Those skills, combined with PPM's strengths in renewable marketing, project implementation and energy management will help PPM expand its successful West Coast and Midwest wind business to Northeast energy markets."

Of the 250 MW of wind generation currently installed in those markets, Atlantic Renewable has developed 162 MW in New York, Pennsylvania and West Virginia. The company was founded in 1998 by Theo DeWolff and Bill Moore.

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