Wind Power Grows Briskly: Minnesota Expects to Add 128.2 Megawatts From Tapping Renewable Energy Source
Posted on: Friday, 5 May 2006, 06:03 CDT
By Jennifer Bjorhus, Pioneer Press, St. Paul, Minn.
May 5--Minnesota is on track to add at least 128.2 megawatts of new wind power in 2006 in what's expected to be another record-breaking year for the overall U.S. wind-energy industry, according to a first-quarter report by the American Wind Energy Association.
Among the projects planned for Minnesota is a 100-megawatt wind farm being developed by Juno Beach, Fla.-based FPL Energy near Austin, Minn. That project would supply Minneapolis-based Xcel Energy.
Minnesota's wind industry may be in high gear, but the 128.2 megawatts slated for this year are down from the 145.3 megawatts Minnesota added last year and the 220.5 megawatts developers added in 2003, according to association numbers.
Even so, the association's report might not capture all projects in the works. Xcel said that it has three contracts for 450 megawatts of new wind power to be produced in the state as it prepares to double its purchases of wind energy by the end of 2007.
"There has been a dramatic increase in activity," said Stephen Wilson, a renewable energy analyst at Xcel.
A megawatt is 1 million watts of electricity. Wind farms are measured by how many megawatts they produce.
The U.S. wind industry plans to invest more than $4 billion in new equipment this year, adding a record 3,000 megawatts of wind-generated electricity or enough electricity to power about 600,000 homes, according to the wind association. That's up from last year's $3 billion in new equipment, generating 2,400 megawatts of electricity.
Driving the increases are high fuel prices, various new state requirements and tax credits, which were renewed last year through 2007, according to the association. The current tax credit is 1.9 cents per kilowatt hour for the first 10 years of operation.
-----
Copyright (c) 2006, Pioneer Press, St. Paul, Minn.
Distributed by Knight Ridder/Tribune Business News.
For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-6515, or e-mail reprints@krtinfo.com.
NYSE:XEL,
Source: Saint Paul Pioneer Press (St. Paul, Minn.)
Related Articles
- Electric Power Research Institute Selects JCP&L for Smart Grid Demonstration
- SunPower Names Power Industry Veteran Thomas R. McDaniel to Its Board of Directors
- Learn About the U.S. Electric Power Industry 2006-2012 Beyond
- A Comprehensive Analysis of the U.S Electric Power Industry From 2006 - 2012: Including an Overview of Current & Future Regulation
- Vanguard Equity Research Corp Initiates Coverage on Asia Electrical Power With a Buy Rating and a $4.50 Price Target
- Get A Clear View Of The US Electric Power Industry With The Most Up To Date Visual Reference Tool Available
- Electric Power Industry Leader Joins Ausra
- In Addition to Investor-Owned Utilities, There Are About 2,000 Government-Owned Electric Power Companies at the Federal, State, and Municipal Level - 'Electric Power Generation - Industry Profile'
- StockerYale Enables Optical Current Sensors for the Electric Power Industry
- An Evaluation of the Risks Involved in the Chinese Electrical Power Industry.
 |
 |
User Comments (0)
RSS Feeds