red states rule
07-13-2009, 07:47 AM
What a shocker. Seems there are major issues with these new "green" energy plans. I remember reading Nancy Pelosi had some moeny invested in this project - it does prve a fool and her money is soon parted
So much for all those green jobs that we were promised
Pickens delays wind farm on finance, grid issues
WASHINGTON/HOUSTON, July 8 (Reuters) - Texas oil billionaire T. Boone Pickens said on Wednesday he has delayed his plan to build the world's largest wind farm in the Texas Panhandle, blaming financing problems and transmission limitations.
"I didn't cancel it," Pickens said after a press conference on Capitol Hill. "Financing is tough right now and so it's going to be delayed a year or two."
Over time, Pickens had planned to install 4,000 megawatts of wind turbines, which could power about 1.2 million average homes, at a site near Pampa, Texas, by 2014 at a cost of $8 billion.
Instead of putting more than 600 wind turbines ordered by his Mesa Power LLP last year for the first $2 billion phase of the project, Pickens said he will likely develop a number of more modest wind farms across the nation's mid-section where wind resources are strongest.
"I had hoped that Pampa would be the starting point, but transmission issues and the problem with the capital markets make that unfeasible at this point," Pickens said in a statement. "I expect to continue development of the Pampa project, but not at the pace that I originally expected."
http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSN0847490720090708
So much for all those green jobs that we were promised
Pickens delays wind farm on finance, grid issues
WASHINGTON/HOUSTON, July 8 (Reuters) - Texas oil billionaire T. Boone Pickens said on Wednesday he has delayed his plan to build the world's largest wind farm in the Texas Panhandle, blaming financing problems and transmission limitations.
"I didn't cancel it," Pickens said after a press conference on Capitol Hill. "Financing is tough right now and so it's going to be delayed a year or two."
Over time, Pickens had planned to install 4,000 megawatts of wind turbines, which could power about 1.2 million average homes, at a site near Pampa, Texas, by 2014 at a cost of $8 billion.
Instead of putting more than 600 wind turbines ordered by his Mesa Power LLP last year for the first $2 billion phase of the project, Pickens said he will likely develop a number of more modest wind farms across the nation's mid-section where wind resources are strongest.
"I had hoped that Pampa would be the starting point, but transmission issues and the problem with the capital markets make that unfeasible at this point," Pickens said in a statement. "I expect to continue development of the Pampa project, but not at the pace that I originally expected."
http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSN0847490720090708