T. Boone Pickens scraps Pampa, Texas wind farm project
Note: This is a set back for wind industry in general. With the declining economy and lower energy prices, it makes it hard for alternative energy to make sense in financial with an environment like this. This might be the time for the government to step in and do some feasibility on Mr. Pickens project and see if it is actually worth putting funds into so it can be completed. If we are every going to truly reduce our non-renewable fuel use, we need all the extra capacity we can get.
News (S.F. Business Times):
Oil billionaire Thomas Boone Pickens Jr. has dropped plans to build a giant wind farm in the Texas Panhandle. Pickens, who made much of his fortune buying up oil and gas companies in the 1980s, put off the wind power project because of the difficulty of getting credit for it in the sour economy.
He’d planned a 4,000-megawatt complex that might cost as much as $10 billion, and Mesa Power, his company, has already ordered 667 wind turbines for it, though they won’t be delivered for several years.
One problem facing the huge project in Pampa, on U.S. Highway 60 northeast of Amarillo, was a lack of heavy transmission lines needed to link any wind generators to the power grid.
“The capital markets have dealt us all a setback,” said Pickens in a statement emailed to the San Francisco Business Times through his PR firm. “I am committed to 667 wind turbines and I am going to find projects for them.”