PGE announces completion of Tucannon River Wind Farm

Region’s newest wind project adds to diversity of renewable energy portfolio

Dec. 15, 2014

Portland, Ore. — Portland General Electric Company (NYSE: POR) today announced its Tucannon River Wind Farm is in service and available to generate power for PGE customers. Tucannon River is PGE's second fully owned and operated large-scale wind project, with 116 turbines and a total installed capacity of 267 megawatts. Given the variability of wind power, the plant is expected to produce an average of 101 megawatts — enough to power the homes of about 84,000 average PGE residential customers.

“Tucannon River Wind Farm is a key infrastructure investment that will serve our customers with clean, renewable energy for decades to come,” said Jim Piro, PGE president and CEO. “Tucannon River supports a balanced, diverse energy portfolio for reliable, reasonably priced power. The new wind farm will also help PGE meet Oregon's Renewable Portfolio Standard, which requires us to supply 15 percent of the electricity our customers use from qualified renewable resources by 2015 and 25 percent by 2025.”

Tucannon River Wind Farm is located on 20,000 acres near Dayton, Wash. The new wind farm complements PGE's existing portfolio of wind resources located in Eastern and North-central Oregon: Biglow Canyon Wind Farm, which is fully owned and operated by PGE, and power purchase agreements for the output of the Klondike II and Vansycle Ridge wind farms. By securing wind power from different geographic locations, PGE is able to better integrate wind into the system because the facilities are less likely to cycle up and down simultaneously.

In addition to providing carbon-free and emissions-free generation of electric power, Tucannon River is providing economic support to the region. “The Tucannon River Wind Farm has been a great addition to Columbia County and the Dayton community,” said Mike Talbott, Columbia County Chair. “The project brought hundreds of construction jobs to the region, and now 18 permanent, family-wage positions to the Dayton community. It's also bringing income to local businesses and increasing county tax revenue. We're happy to have PGE in our community.”

Tucannon River was built for PGE by general contractor and independent renewable power developer Renewable Energy Systems Americas Inc. using wind turbines manufactured by Siemens, each with a nameplate generating capacity of 2.3 megawatts. Power generated at Tucannon River will be brought to PGE customers via a new interconnection at Central Ferry Substation constructed by the Bonneville Power Administration. The plant was completed on time and on budget under fixed-price contracts, with final construction costs expected to be approximately $500 million, excluding AFDC.

Completion of Tucannon River Wind Farm is a significant milestone in the implementation of the action plan that came out of PGE's 2009 Integrated Resource Plan. The plan was acknowledged by the Oregon Public Utility Commission in November 2010. The requests for proposals used to select the project were conducted pursuant to competitive bidding guidelines established by the OPUC, using objective scoring criteria intended to identify projects that provide the best balance of cost and risk while meeting PGE customers' needs for reliable, affordable electric power.

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About Portland General Electric Company
Portland General Electric (NYSE: POR) is a fully integrated energy company based in Portland, Oregon, serving approximately 887,000 customers in 51 cities. For more than 130 years, PGE has been delivering safe, affordable and reliable energy to Oregonians. Together with its customers, PGE has the No. 1 voluntary renewable energy program in the U.S. With approximately 3,000 employees across the state, PGE is committed to helping its customers and the communities it serves build a clean energy future. For more information, visit PortlandGeneral.com/CleanVision.


Safe Harbor Statement
Statements in this news release that relate to future plans, objectives, expectations, performance, events and the like may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the company’s future energy mix; statements concerning the company’s integration of smart-grid technologies and renewable energy into the grid; statements regarding acquisition, construction, completion, and operation of generating and battery storage facilities; as well as other statements containing words such as “anticipates,” “believes,” “intends,” “estimates,” “promises,” “expects,” “should,” “conditioned upon,” “will,” “would,” “could” and similar expressions. Investors are cautioned that any such forward-looking statements are subject to risks and uncertainties, including construction and operational risks relating to the generation and battery storage facilities, including wind conditions and unscheduled delays or plant outages, which may result in unanticipated operating, maintenance and repair costs, as well as replacement power costs; the costs of compliance with environmental laws and regulations, including changes in weather, hydroelectric and energy markets conditions, which could affect the availability and cost of purchased power and fuel; changes in capital market conditions, which could affect the availability and cost of capital and result in delay or cancellation of capital projects; failure to complete capital projects on schedule or within budget, failure of the counterparty to perform under the agreements, or the abandonment of capital projects, which could result in the company’s inability to recover project costs; the outcome of various legal and regulatory proceedings; and general economic and financial market conditions. As a result, actual results may differ materially from those projected in the forward-looking statements. All forward-looking statements included in this news release are based on information available to the company on the date hereof and such statements speak only as of the date hereof. The company assumes no obligation to update any such forward-looking statement. Prospective investors should also review the risks and uncertainties listed in the company’s most recent annual report on form 10-K and the company’s reports on forms 8-K and 10-Q filed with the United States Securities and Exchange Commission, including management’s discussion and analysis of financial condition and results of operations and the risks described therein from time to time.

For more information contact: Brianne Hyder, PGE, 503-464-8596, Brianne.Hyder@pgn.com