|
Press Release: VESTAS TURBINES WILL POWER PGE BIGLOW CANYON WIND PROJECT PORTLAND, ORE. (Nov 27, 2006) Portland General Electric Company (NYSE: POR) today announced it has executed an agreement with Vestas Wind Systems, of Denmark, to acquire 76 turbines for phase one construction of the 25,000-acre Biglow Canyon Wind Farm in Sherman County, Ore. The turbines will each have the capacity to generate 1.65 megawatts (MW) of electricity, for a total of 125.4 MW - enough power to supply the needs of about 32,000 homes.The Biglow Canyon project was developed by Orion Energy LLC and will be built, owned and operated by PGE. "We're very pleased to be working with Vestas on this project," said Jim Lobdell, PGE's vice president for power operations and resource strategy. "Wind power will be an increasingly important part of our portfolio in coming years, and Biglow Canyon Phase I will be a model for future developments. Vestas has an outstanding record of success and will help us assure that we're off to a good start." Vestas Wind Systems is a global leader in the development, manufacture, sale, marketing and maintenance of wind power systems. It began manufacturing wind turbines in 1979, and has since installed a total of 30,000 turbines in 50 countries worldwide.
"Vestas is encouraged by the continuing growth of wind power in the Pacific Northwest. The order with Portland General Electric is a further strengthening of Vestas' activities in the region. Vestas is pleased to be a supplier to Portland General Electric for this wind power project and we look forward to a long-term cooperation with this important customer," says Jens Soby, President of Vestas Americas.
"We're pleased that our agreement with Vestas will allow us to proceed with phase one on schedule, and optimistic that this will position us well to proceed with the remaining phases in future years" said Lobdell. # # #
About Portland General Electric Company
Portland General Electric, headquartered in Portland, Ore., is a fully integrated electric utility that serves more than 793,000 residential, commercial and industrial customers in Oregon. Visit our Web site at PortlandGeneral.com About Vestas Wind Systems A/SVestas is the world leader in wind energy technology and a driving force in the development of the wind power industry. Vestas' core business comprises the development, manufacture, sale, marketing and maintenance of installations utilizing wind energy to generate electricity. Safe Harbor StatementStatements in this news release that relate to future plans, objectives, expectations, performance, events and the like may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by words including, but not limited to, "anticipates," "believes," "intends," "estimates," "promises," "expects," "should," "conditioned upon" and similar expressions. Investors are cautioned that any such forward-looking statements are subject to risks and uncertainties, including matters and events related to various legal and regulatory proceedings; the timing of the purchase of additional wind turbines and weather and other factors that could affect the construction of the Biglow Canyon project. As a result, actual results may differ materially from those projected in the forward-looking statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof and such statements speak only as of the date hereof. The Company assumes no obligation to update any such forward-looking statement. Prospective investors should also review the risks and uncertainties listed in the Company's most recent Annual Report on Form 10-K and the Company's reports on Forms 8-K and 10-Q filed with the United States Securities and Exchange Commission, including Management's Discussion and Analysis of Financial Condition and Results of Operation and the risks described therein from time to time. POR-F |