The City of Bryan’s Chief Financial Officer Joe Hegwood announced today credit upgrades by Standard & Poor’s and Fitch Bond Rating services for Bryan Texas Utilities’ (BTU’s) City and Rural System Revenue Bonds. BTU’s Rural System Revenue Bonds were upgraded from A+ to AA- by both Standard & Poor’s and Fitch Ratings. BTU’s City System […]
BRYAN, TX—Bryan Texas Utilities is now purchasing output from the recently completed Los Vientos V Windpower Project, located in Starr County, Texas.
Duke Energy Renewables, a commercial business unit of Duke Energy in Charlotte, North Carolina, publicly announced their plans to build, own, and operate this 110-megawatt wind power project in September 2014. BTU signed on to participate in the project for a term of 25-years at a very competitive fixed price.
The decision to participate in the project came in August of 2014 after the BTU Board of Directors assessed the long-term generation resource needs of the utility and determined that the Los Vientos V project was a good fit for the organization. The output purchased from Los Vientos V will be an important component of BTU’s energy portfolio, and will allow the utility to continue to provide its customers with affordable power.
“We look forward to receiving the output from this generation facility and know that it is a positive step for both BTU and the customers we serve,” said Gary Miller, BTU General Manager. “Purchasing power from generation plants like Los Vientos benefits BTU customers because the cost is competitive and it also reduces the financial risk associated with the ever changing costs of fossil fuels. Since the fuel for this generation is wind, we were able to secure a fixed price over the entire 25-year purchase agreement at a very competitive rate.”
BTU is a municipally owned utility with a current generation capacity of 330 megawatts, and serves over 52,000 customers in Brazos, Burleson, and Robertson counties.
For more information contact:
Group Manager Business and Customer Operations