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Portland General Electric enters agreement for energy project, wind farm

Portland General Electric announced completion of competitive bidding processes and subsequent negotiations to construct a baseload energy project and to acquire and construct a new wind farm. PGE has entered into the following: an agreement to construct a new 440 megawatt natural gas-fired power plant near Boardman. Projected cost: $440M-$455M, excluding allowance for funds used during construction. Agreements to acquire development rights for and to construct a new wind farm in southeastern Washington with a nameplate capacity of 267 megawatts. Projected cost: $520M-$535M, excluding allowance for funds used during construction. The company also signed a non-binding MOU to participate in negotiations with BPA to pursue ownership of regional transmission capacity to meet PGE customers’ needs via an innovative exchange of capacity and assets.