Houston-based EDP Renewables North America has inked a power purchase agreement with Cleveland-Cliffs Inc. (NYSE: CLF) in Ohio for the majority of the electricity that will be generated at the 200-megawatt Headwaters III Wind Farm in Randolph County. The wind farm is expected to be operational in 2025.
EDP Renewables is currently developing the wind farm, which is expected to generate enough electricity to power the equivalent of more than 54,000 homes in Indiana.
As part of the PPA, Cleveland-Cliffs will purchase 180 megawatts of power from the wind farm.
“A key priority of Cleveland-Cliffs’ greenhouse gas reduction strategy revolves around the efficient use of energy and clean energy. We are committed to the greening of the grid through renewable energy projects such as the Headwaters III Wind Farm,” Cleveland-Cliffs CEO Lourenco Goncalves said in written remarks. “This project is another step towards achieving Cleveland-Cliffs’ emission reduction goal of 25% by 2030 and will advance our portfolio of renewable energy initiatives that are additive to the power grid.”
Headwaters III is located in Winchester, about 85 miles east of Indianapolis near the Ohio border.
The project is the third phase of the Headwaters Wind Farm. The first two phases, which generate 200 megawatts and 198 megawatts, respectively, are already operational.
EDP Renewables says Headwaters III will have a 30-year lifespan and provide economic benefits to the area in the form of land owner payments, local government payments, as well as hundreds of construction jobs.
EDP Renewables currently has about 1,400 megawatts of renewable energy capacity currently operational in Indiana with more on the day. The company is also currently constructing the 202-megawatt Indiana Crossroads II Wind Farm in White County, as well as the 200-megawatt Indiana Crossroads Solar Park.