The company has agreed to buy energy from PSO’s Wind Catcher project to power many of its stores
Public Service Company of Oklahoma and Walmart Inc. announced an agreement Friday on the proposed Wind Catcher Energy Connection project.
The $4.5 billion Wind Catcher project includes the acquisition of a 2,000 megawatt wind farm under construction in the Oklahoma Panhandle near Guymon and a dedicated generation tie line to the Tulsa area, where the energy will be delivered to customers.
The new wind energy will compliment PSO’s existing power resources, and the project is expected to save PSO customers around $2 billion over 25 years, the utility company said in a statement.
The project is a partnership between PSO and its sister company, Southwestern Electric Power Co. PSO’s share of the project investment is $1.36 billion.
The agreement with Walmart, which will purchase power generated from the project, includes new reporting requirements, a lower cost cap on project construction costs and an assurance that Oklahoma customers will receive at least the same benefits as SWEPCO.
“We appreciate the opportunity to work with Walmart, one of our valued customers, to advance the Wind Catcher project,” said Stuart Solomon, PSO president and chief operating officer. “This agreement recognizes the tremendous benefits Wind Catcher will deliver to Walmart and all of our other customers across Oklahoma.”
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When it comes online in late 2020, Wind Catcher will be the lowest cost energy on PSO’s system. Customers will see savings primarily through a reduction in the fuel portion of their bills. With Wind Catcher, PSO customers will receive 40 percent of their energy from Oklahoma wind resources.
“Projects like Wind Catcher help Walmart meet our goal to be supplied by 100 percent renewable energy,” said Mark Vanderhelm, vice president of Energy at Walmart. “As a PSO customer, we look forward to seeing this important project move forward to provide the renewable, affordable energy we need to help meet our business goals.”