Wind Power Making Headway in Texan Oil Country
- From: xnichols@xxxxxxxxxxx
- Date: Wed, 10 Oct 2007 09:55:33 -0700
Wind Power Making Headway in Oil Country
By Chuck Marvin
TheStreet.com Staff Reporter (extract)
10/8/2007 11:10 AM EDT
"When you think of Texas and energy, green alternatives are probably
the last thing that comes to mind.
But the land of big trucks and big oil is emerging as the leader in
wind energy, an alternative technology that could become an important
power source.
Last week, the state awarded a Louisiana company the right to build
large wind farms in the Gulf of Mexico through what was the nation's
first competitive lease auction for the generation of offshore wind
energy.
The company, Wind Energy Systems Technology, or WEST, will pay Texas a
minimum of $132 million over 30 years for the rights to four tracts
totaling more than 73,000 acres. In a best-case scenario, Texas could
get as much as $433 million during that time.
The leases stipulate that the wind farms will ultimately produce at
least 250 megawatts of power per tract, according to Jim Suydam, press
secretary for the Texas General Land Office. That's enough to supply
300,000 homes with electricity. "
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