As proposed, the Wild Horse Wind Power Project would include between 100 and 133 wind turbines over 5,000 acres. It could provide as much as 220 megawatts of power.

The project has been proposed by Houston-based Zilkha Renewable Energy, a company that develops wind farms. The final purchase price will depend on the size of the project.

Zilkha Renewable Energy will be responsible for the permitting process and Puget Sound Energy will handle other responsibilities, including some financing and construction, under the terms of the deal.

Puget Sound Energy reviewed several proposals for wind power projects in the Pacific Northwest before deciding to pursue the Wild Horse project.

The project has the potential to produce enough power to supply nearly 73,000 homes each year.

"Based on our analysis, the Wild Horse Project would help us secure energy for our customers at stable, predictable prices. It features the economic, operational and environmental characteristics we looked for in a wind project," Eric Markell, Puget senior vice president for energy resources, said Tuesday in a news release.

The project is under review by the Washington Energy Facility Site Evaluation Council. If approved, it could be completed in early 2006, Markell said.

Markell said the company would raise the capital through a combination of debt and equity. He said Puget Sound Energy would not need permission from the Washington Utilities and Transportation Commission to buy the site, but the company would have to ask for a rate increase to cover its costs.

Puget Sound Energy has estimated that it will need an additional 350 megawatts of power to serve its growing number of users by 2008. In October, the company bought a minority stake in a power plant 15 miles from Tacoma that can generate 137 megawatts at full capacity.