Legendary oil exec T. Boone Pickens will spend $10 billion to build the world’s biggest wind farm.
Wind-Power Industry Set To Tap Capital Markets
By Kenneth Stier, Features Writer | 22 May 2008|CNBC
Small investors might soon be able to take part in the surging growth of US wind power, as the industry reaches a scale that will increasingly require tapping public capital markets to continue its explosive growth.
Last year the sector grew 45 percent and in the first quarter of 2008, some $3 billion of new generation was installed, raising the nation’s overall capacity to more than 18,000 megawatts – enough to power 5 million homes.
That is still less than one percent of US’ electricity demand but a recent Department of Energy study said this could realistically shoot up to 20 percent by 2020, far exceeding even rosy earlier predictions.
But that depends on overcoming critical transmission bottlenecks – and preserving federal subsidies needed to ………….