PORTLAND, Ore. (AP) -- Portland General Electric Co. has signed a preliminary agreement to buy development rights on a huge new wind farm planned near Condon in eastern Oregon.

The Oregonian reports that the deal gives PGE exclusive rights through the end of the year to buy the project from Renewable Energy Systems Americas Inc. Terms of the agreement have not been disclosed.

RES is still seeking state permits for the wind farm, while PGE needs a waiver from Oregon regulators to avoid the normal competitive bidding process.

The Rock Creek wind farm could encompass more than 100 square miles and produce 400 to 550 megawatts of power.

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Information from: The Oregonian, http://www.oregonlive.com

Copyright 2010 The AP.

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