Energy Stock News; Constellation Energy (NYSE: CEG) Completes Acquisition of Criterion Wind Project in Western Maryland

Energy Stock News; Constellation Energy (NYSE: CEG) Completes Acquisition of Criterion Wind Project in Western Maryland


BALTIMORE--(Investorideas.com renewable energy /green newswire )--Constellation Energy (NYSE: CEG) today announced it has closed its agreement with Clipper Windpower, Inc., to acquire the Criterion wind project in Garrett County, Md., and to purchase 28 Clipper Liberty 2.5-megawatt wind turbines for the project. The 70-megawatt project will be developed, constructed, owned and operated by Constellation Energy. It is estimated that up to 125 new jobs will be created during peak construction. Commercial operation of the wind energy facility is anticipated by year-end.

“Maryland’s clean energy goals are among the most ambitious in the nation and we’re committed to working with the state to achieve them by investing in an array of solar, wind, biomass and other sustainable energy projects”

.“Maryland’s clean energy goals are among the most ambitious in the nation and we’re committed to working with the state to achieve them by investing in an array of solar, wind, biomass and other sustainable energy projects,” said Kathleen W. Hyle, senior vice president, Constellation Energy, and chief operating officer, Constellation Energy Resources. “The market for clean energy products and services is growing rapidly in Maryland and across competitive energy markets nationwide. Investments in sustainable energy sources improve the environment by reducing carbon emissions, spur much-needed job growth and allow us to broaden our clean energy product offerings for customers.”

Constellation Energy intends to complete the project in an environmentally responsible manner with special attention to avoid, minimize and mitigate any potential wildlife impacts from the project. The company will continue to work with state and federal agencies as part of this effort and plans to apply for an “incidental take” permit from the U.S. Fish and Wildlife Service.

The project has entered into a 20-year power purchase agreement with the Old Dominion Electric Cooperative for energy and renewable energy credits produced by the wind facility. Old Dominion is a not-for-profit wholesale power provider serving public electric cooperatives in Maryland, Delaware and Virginia.

Constellation Energy’s growing clean energy portfolio includes approximately 1,000 megawatts of renewable power generation owned or under contract from sources including utility-scale solar, hydro, geothermal and biomass power plants. Constellation Energy also works with commercial customers to develop distributed solar solutions. Approximately 25 megawatts of solar installations owned and operated by Constellation Energy have been completed or are under development for customers ranging from universities to state government agencies, as well as an array of retail and industrial businesses.



About Constellation Energy
Constellation Energy (www.constellation.com) is a leading supplier of energy products and services to wholesale and retail electric and natural gas customers. It owns a diversified fleet of generating units located in the United States and Canada, totaling approximately 7,100 megawatts of generating capacity, and is among the leaders pursuing the development of new nuclear plants in the United States. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. A FORTUNE 500 company headquartered in Baltimore, Constellation Energy had revenues of $15.6 billion in 2009. _____________________________________________________
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