The European financial crisis has apparently reached all the way to the Texas coast.
Earlier this week, a Spanish company planning to expand its wind farm in Kenedy County scrapped its idea, according to Austin Energy, which had planned to buy up to 200 megawatts of the expanded facility’s generating capacity. The company informed Austin Energy it won’t sign the contract it had negotiated with the city.
“The deal we had, we don’t have now,” said Michael Osborne, who negotiated the contract as a special assistant to Austin Energy’s general manager.
City officials had been particularly excited about the deal because it would provide peaking power. It was the third coastal wind deal Austin Energy had sniffed out this year at that price. The other two deals will provide 291 megawatts of capacity, and those contracts have been signed, Osborne said.
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