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Wind Power Rivals Coal With $1 Billion Order From Buffett

The decision by Warren Buffett ’s utility company to order about $1 billion of wind turbines for projects in Iowa shows how a drop in equipment costs is making renewable energy more competitive with power from fossil fuels. Turbine prices have fallen 26 percent worldwide since the first half of 2009, bringing wind power within 5.5 percent of the cost of electricity from coal, according to data compiled by Bloomberg. MidAmerican Energy Holdings Co., a unit of Buffett’s Berkshire Hathaway Inc., yesterday announced an order for 1,050 megawatts of Siemens AG wind turbines in the industry’s largest order to date for land-based gear. Wind is the cheapest source of power in Iowa, and the deal indicates that turbines are becoming profitable without subsidies, according to Tom Kiernan , chief executive officer of the American Wind Energy Association trade group. That’s a boost for suppliers including Siemens, […]

Posted On : Published By : Tom Whipple
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Wind Farms Are Expensive, Subsidies Are Uncertain, Plans Are Being Curtailed

LONDON—A major European utility said Tuesday it would scrap a wind farm that was due to become the largest offshore wind project ever built, a sign of the struggles of the industry to attract investment needed to overcome huge costs and technical challenges. The Atlantic Array, in the Bristol Channel off the west coast of England, could have generated up to 1,200 megawatts of electricity, almost twice as much as the largest farm already operating in U.K. waters. But RWE said on Tuesday that continuing with the project faced problems that were “prohibitive in current market conditions.” RWE’s decision highlights the central difficulty in achieving Europe’s ambitious wind targets. Huge plans are in place, but few investors are willing to stake the billions needed to build them, in an environment where government subsidy is essential but uncertain and costs can skyrocket. The U.K. has pioneered offshore wind power, maximizing […]

Posted On : Published By : Tom Whipple
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Scottish wind farm expansion to result in 102 megawatts of power

EDINBURGH, Scotland, Oct. 25 (UPI) — The Scottish government said Friday it has agreed to plans to expand a wind farm so it will generate more than 100 megawatts of power for consumers. “The proposed extension to the wind farm, which will be developed by Mid Hill Wind Limited, is to have nine turbines, bringing the total number of turbines to 34 and have a maximum generating capacity of 102 megawatts,” the government said. “The farm could power the equivalent of more than 48,000 homes in the area.” The government said 52 of the 56 applications under consideration for new energy projects are for onshore wind developments. Scotland has one of the most ambitious renewable energy targets in the world. It set a goal of generating 100 percent of its electricity from renewable resources by 2020. “Wind farms, like Mid Hill, provide considerable benefits to their local community and […]

Posted On : Published By : Tom Whipple
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Irish energy chief Pat Rabbitte attends launch of Tipperary wind farm

DUBLIN, Ireland, Oct. 25 (UPI) — A 40-megawatt wind farm now under construction in central Ireland will help the country move closer to its renewable energy targets, a government minister said. “Ireland has a challenging European Union renewable energy target to meet by 2020, which includes meeting 40 percent of electricity demand from renewable sources,” Energy and Natural Resources Minister Pat Rabbitte said Thursday at the launch of the wind farm in central Brukhana country in Tipperary. “We are making progress towards this target, however, and development of renewable generation of the scale we will see at Bruckhana is crucial for maintaining the rate of build necessary to achieve our EU target.” State utility company Bord na Mona is in charge of construction of the wind farm. No date for completion was given. The Irish government said it’s committed to meeting 40 percent of electricity demand through renewable resources […]

Posted On : Published By : Tom Whipple