Investing News Blog

Sunday, May 14, 2006

Texas Offshore Wind Farm Approved

The alternative or green energy sector is growing with a proposal to build the biggest wind farm in the US being approved and will hopefully go ahead with construction in about 4 years time. Environmentilist groups have called for studies to be done on how local wildlife will be affected before construction begins.

The wind turbines which are expected to number more than 100, will be placed between 3 and 8 miles offshore, suppling about 500 megawatts of capacity, large enough to power a small city or about 125,000 homes. This industry has grown by about 25% over last year and with oil prices increasing and oil reserves decreasing, i expect wind farms to be popping up all over the place even if they are a bit unsightly.

Offshore Wind Farm is Approved
"Texas General Land Office, which manages state lands and mineral rights, said yesterday that it reached an agreement granting Superior Renewable Energy LLC the rights to 39,900 acres of submerged lands in the Gulf of Mexico, just off the coast of Padre Island and south of Baffin Bay. The big wind turbines, expected to number more than 100, will be erected as few as three and as many as eight miles offshore".
Washington Post

# Energy & Oil