The project will be adjacent to Xcel Energy's Grand Meadow wind project.
"RES Americas is pleased to once again work with Xcel Energy to provide an additional 200 megawatts of affordable and clean energy to the region," said Susan Reilly, President and CEO of RES Americas.
"This is an excellent example of the realized benefits of the Production Tax Credit," Reilly continued. "This project will generate clean, renewable energy, and provide one of the lowest cost power resources currently available in the region."
RES Americas will continue its role as developer and constructor of Pleasant Valley. Once the project is complete, RES Americas will transfer ownership of Pleasant Valley to Xcel Energy, who will own and operate the project.
The development and construction schedules remain on track to be completed by the end of 2015, with development activities into 2014 and plans to break ground in mid-2014.
Pleasant Valley Wind Farm is part of 600 MW of wind power recently announced by Xcel Energy in its Upper Midwest service territory.
Following a request for proposals in February, Xcel Energy selected Pleasant Valley and two other projects to submit to regulators for review. Xcel Energy submitted the projects to the Minnesota Public Utilities Commission and the North Dakota Public Service Commission for consideration and notified regulators in South Dakota, Wisconsin and Michigan.
"We are committed to meeting our customers' needs in clean and affordable ways," said Ben Fowke, chairman, president and CEO of Xcel Energy. "Wind power is simply the cheapest resource available right now, and we are taking the opportunity afforded by the PTC extension to further shape our systems for the future."
Combined, the projects will produce enough energy to serve 180,000 homes.
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