DETROIT, Sept. 10, 2013 /PRNewswire/ -- The Michigan Public Service Commission has approved DTE Energy's (NYSE: DTE) contract to purchase 20 megawatts (MW) of renewable energy from a subsidiary of Heritage Sustainable Energy, a Michigan wind energy producer.
The energy produced for DTE Energy under the 20-year contract will come from Big Turtle Wind Farm LLC, which will cover 2,800 acres in Rubicon Township in Huron County in Michigan's Thumb area. DTE Energy will purchase all of the power produced at the wind park, expected to be operational by late 2014. The 20 megawatts is enough to power about 9,000 homes.
The wind park will comprise a minimum of 50 percent Michigan content and feature new technology advanced by Ventower Industries of Monroe and other Michigan suppliers. The Big Turtle Wind Farm will have 10 2-MW turbines and will be the first wind park in Michigan to incorporate all Ventower towers.
The contract is part of DTE Energy's efforts to expand the company's renewable energy resources and meet the state's renewable energy goals. DTE Energy expects to add more than 900 MW, or 10 percent of its power, by 2015. The contract will bring DTE Energy's renewable energy portfolio, with contracts signed or projects in operation, to 9.8 percent.DTE Energy plans to own facilities to supply up to half of that power and contract with third-party producers, such as Heritage, for the rest. Most of that power will come from wind resources. SOURCE DTE Energy
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV