News Release Details

PORTLAND, Ore., Nov 27, 2006 (BUSINESS WIRE) -- Portland General Electric Company (NYSE: POR) today announced it has executed an agreement with Vestas Wind Systems, of Denmark, to acquire 76 turbines for phase one construction of the 25,000-acre Biglow Canyon Wind Farm in Sherman County, Ore. The turbines will each have the capacity to generate 1.65 megawatts (MW) of electricity, for a total of 125.4 MW -- enough power to supply the needs of about 32,000 homes.

The Biglow Canyon project was developed by Orion Energy LLC and will be built, owned and operated by PGE.

"We're very pleased to be working with Vestas on this project," said Jim Lobdell, PGE's vice president for power operations and resource strategy. "Wind power will be an increasingly important part of our portfolio in coming years, and Biglow Canyon Phase I will be a model for future developments. Vestas has an outstanding record of success and will help us assure that we're off to a good start."

Vestas Wind Systems is a global leader in the development, manufacture, sale, marketing and maintenance of wind power systems. It began manufacturing wind turbines in 1979, and has since installed a total of 30,000 turbines in 50 countries worldwide.

"Vestas is encouraged by the continuing growth of wind power in the Pacific Northwest. The order with Portland General Electric is a further strengthening of Vestas' activities in the region. Vestas is pleased to be a supplier to Portland General Electric for this wind power project and we look forward to a long-term cooperation with this important customer," says Jens S0by, President of Vestas Americas.

PGE could ultimately construct between 350 and 450 MW of wind energy capacity at the Biglow Canyon site, which could produce enough electricity to power 100,000 homes. This would make it one of the largest wind power projects in the region. PGE proposes to construct the wind farm in three phases during a five-year timeframe.

PGE officials said the project fits well with what customers want and with the company's goal to minimize energy price volatility by reducing exposure to fuel costs.

"We're pleased that our agreement with Vestas will allow us to proceed with phase one on schedule, and optimistic that this will position us well to proceed with the remaining phases in future years" said Lobdell.

In combination with existing wind resources, this first phase of Biglow Canyon will allow PGE to offer its customers access to a total of 225 MW of wind energy capacity. PGE customers already receive all 75 MW of wind capacity from PPM Energy's Klondike II wind farm in Sherman County through a 30-year agreement that began last year, and 25 MW of wind capacity from the Vansycle Ridge wind farm in Umatilla County.

Completion of Biglow Canyon phase one is anticipated by December 2007. In combination with the Klondike II contract this will fulfill PGE's 200 MW wind power target from the company's 2002 Integrated Resource Plan.

PGE currently is first in the nation for residential renewable energy sales through its retail sign-up program, which gives customers the opportunity to have more renewable energy delivered to the electrical grid than what is provided from the standard mix. Over 49,000 PGE residential and commercial customers currently participate in the company's retail renewable power options.

About Portland General Electric Company

Portland General Electric, headquartered in Portland, Ore., is a fully integrated electric utility that serves more than 793,000 residential, commercial and industrial customers in Oregon. Visit our Web site at PortlandGeneral.com

About Vestas Wind Systems A/S

Vestas is the world leader in wind energy technology and a driving force in the development of the wind power industry. Vestas' core business comprises the development, manufacture, sale, marketing and maintenance of installations utilizing wind energy to generate electricity.

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 may be identified by words including, but not limited to, "anticipates," "believes," "intends," "estimates," "promises," "expects," "should," "conditioned upon" and similar expressions. Investors are cautioned that any such forward-looking statements are subject to risks and uncertainties, including matters and events related to various legal and regulatory proceedings; the timing of the purchase of additional wind turbines and weather and other factors that could affect the construction of the Biglow Canyon project. 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 Operation and the risks described therein from time to time.

POR-F

Source: Portland General Electric Company

SOURCE: Portland General Electric Company

PGE
Steve Corson, 503-464-8444

Copyright Business Wire 2006

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