EDP Renewables will build a 100-megawatt wind farm to provide power to Lincoln Electric Systems for 20 years. It is expected to be built in 2015.
Lincoln Electric Systems CEO Kevin Wailes said the wind farm will bring lower-cost power to the company's customers.
“We expect to begin realizing these savings in the first year, with the benefits increasing throughout the life of the contract,” he said.
Wailes said the Oklahoma wind will boost the company's renewable resource portfolio by 12 percent.
“By 2016, over 23 percent of LES' annual retail sales will be supplied by renewable resources, which includes wind, solar, hydro and landfill gas,” he said.
“Aside from the environmental benefits, increasing the amount of renewable energy in our power resource portfolio will help mitigate the adverse impact that additional regulations on power plant emissions and fuel and electric market volatility can have on our low rates.”
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By 2016, over 23 percent of LES' annual retail sales will be supplied by renewable resources, which includes wind, solar, hydro and landfill gas.”
Lincoln Electric Systems CEO