TradeWind Energy and The Public Service of Oklahoma, subsidiary of American Electric Power, has entered into a long-term agreement to bring low-cost electricity in the from the Goodwell Wind Project in the Oklahoma Panhandle.

The 20-year-deal will provide 200 MW of energy, enough to power approximately 60,000 homes.

TradeWind CEO Rob Freeman expressed praise to Oklahoma lawmakers for creating an attractive area for business investment in the state.

“Oklahoma’s natural resources and the leadership of lawmakers have made it an ideal state for wind-energy investment,” Freeman said. “Oklahoma’s thoughtful policies have helped encourage development of a resource that is mutually beneficial to ratepayers, local communities and the environment.”

This will be TradeWind's third project in Oklahoma and will mean that the company will have complete 585 MW in the state.

The Goodwell project is expected to go into operation sometime in late 2015. The last project completed by TradeWind was the Rocky Ridge Project near Hobart. The project added 150 MW. TradeWind plans to install another 300 MW to the project.

Wind Energy bills vary depending on where you live and your electric grid. However as fossil fuels start to diminish and the costs of the energy starts to go up, wind energy will provide an alternative solution.

According to a study conducted by Berkeley Labs:

"Wind power comprised 43% of all new U.S. electric capacity additions in 2012 and represented $25 billion in new investment. Wind power currently contributes more than 12% of total electricity generation in nine states (with three of these states above 20%), and provides more than 4% of total U.S. electricity supply."

According to Mark Bolinger, Research Scientist at Berkeley Labs, 2013 is expected to be a slow growth in wind farm additions, but that 2014 would be a much stronger year.

The Goodwell project is the third agree Public Service of Oklahoma entered in bringing cleaner and alternative forms of energy to the state.

“With these long-term power purchase agreements we’re adding a significant amount of Oklahoma wind energy, bringing more diversity to our fuel mix, and doing so at a price that will provide substantial savings for our customers,” said Stuart Solomon, PSO president and chief operating officer.