DTE Approved for 20 MW Wind Purchase

Before you go, we thought you'd like these...
Before you go close icon

DTE Energyannounced today that Michigan regulators have approved the utility's request to purchase 20 MW of wind power from privately held producer Heritage Sustainable Energy.

According to the contract, DTE has agreed to buy up wind from a 2,800-acre farm expected to come online in late 2014. The utility has entered into a 20-year power purchase agreement, a common way for renewable-energy producers and regulated utilities to settle on a long-term rate that works for both corporations.

DTE's wind farm will vary from others because of its Michigan sourcing. Rather than buy turbines from larger manufacturers such as General Electric, all turbines will be supplied by local company Ventower Industries, and at least 50% of the overall farm will use "Michigan content."


According to DTE, this latest decision comes as part of the company's larger strategy to expand its renewables footprint. With this contract, DTE is 0.2 percentage points away from reaching Michigan's renewable-energy goal of 10% renewable capacity by 2015.

The article DTE Approved for 20 MW Wind Purchase originally appeared on Fool.com.

Fool contributor Justin Loiseau owns shares of General Electric Company. You can follow himon Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.The Motley Fool owns shares of General Electric. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

20 Folks Recall Shocking Interview Moments That Made Them NOT Want the Job 20 Folks Recall Shocking Interview Moments That Made Them NOT Want the Job
Nature Gets Revenge On Safari Hunter Who Killed Elephants And Lions For Sport Nature Gets Revenge On Safari Hunter Who Killed Elephants And Lions For Sport
Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going