St. Louis, MO /PRNewswire/ - Today Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), announced that it has entered into an agreement to acquire, after construction, a third wind generation facility in Missouri. The facility, developed by Tradewind Energy, an Enel Green Power company, will be located in Atchison County.
In the past eight months, Ameren Missouri has entered into commitments to acquire up to 857 megawatts (MW) of clean, renewable wind energy representing an investment of approximately $1.4 billion. Today's agreement is an important step in implementing Ameren Missouri's Integrated Resource Plan, a 20-year outlook that supports cleaner energy in the state.
"Adding home-grown renewable energy in Missouri benefits our state by integrating more renewable resources onto the grid and boosting local economies. We anticipate that over 300 high-quality jobs will be created while the project is being built," said Michael Moehn, chairman and president of Ameren Missouri.
When operational in 2020, the 300 MW wind facility will power 90,000 homes. It will be located near the town of Tarkioand is scheduled to join two other planned Ameren Missouri-owned wind generation facilities; one will be in Atchison County near the town of Rock Port, and the other, the state's largest, will stretch across Adair and Schuyler Counties.
"This third facility is planned to be the most advanced in the state by harnessing more wind with fewer turbines. In taking advantage of this new technology, we're taking another step in transitioning our generation fleet to cleaner resources and achieving our goal of reducing carbon emissions 80 percent by 2050," said Ajay Arora, vice president of power operations and energy management.
Before construction of the third facility, Ameren Missouri must obtain the Missouri Public Service Commission's review and approval. All three planned facilities remain subject to a number of conditions including obtaining timely and acceptable transmission interconnection agreements from the applicable regional transmission organizations.
"We're bringing benefits to our customers for years to come by expanding renewable energy and modernizing the grid, all as part of the Smart Energy Plan," Moehn said.
Ameren Missouri has been providing electric and gas service for more than 100 years, and the company's electric rates are among the lowest in the nation. Ameren Missouri's mission is to power the quality of life for its 1.2 million electric and 127,000 natural gas customers in central and eastern Missouri. The company's service area covers 64 counties and more than 500 communities, including the greater St. Louis area. For more information, visit Ameren.com/Missouri or follow us on Twitter at @AmerenMissouri or Facebook.com/AmerenMissouri.
Statements in this release not based on historical facts are considered "forward-looking" and, accordingly, involve risks and uncertainties that could cause actual results to differ materially from those discussed. Although such forward-looking statements have been made in good faith and are based on reasonable assumptions, there is no assurance that the expected results will be achieved. These statements include (without limitation) statements as to future expectations, beliefs, plans, strategies, objectives, events, conditions, and financial performance. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we are providing this cautionary statement to identify important factors that could cause actual results to differ materially from those anticipated. The following factors, in addition to those discussed under Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2018, and elsewhere in this release and in our other filings with the SEC, could cause actual results to differ materially from management expectations suggested in such forward-looking statements:
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