BP division set to begin wind projects |
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Fri, 12 Jan 2007 16:29
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HOUSTON (AFX) - BP Alternative Energy North America Inc., a subsidiary of BP PLC that combines the company's oil and gas interests in low and zero-carbon power generation, on Friday said it plans to begin construction this year on five wind power generation projects in the U.S.The company did not place a dollar value on the project.BP Alternative Energy said it will put wind turbines at sites in California, Colorado, North Dakota and Texas. Collectively the projects will generate about 550 megawatts of electricity. When complete, the projects will exceed the company's previously announced target to build 450 megawatts by the end of 2008.BP Alternative Energy has already started construction in Weld County, Colo., a development venture between BP Alternative Energy and Babcock & Brown Operating Partners LP, part of the Australian investment and advisory firm Babcock & Brown Ltd.The 300-megawatt wind power generation project will have 274 wind turbines. The company expects it to start operating in the second half of 2007. When fully commercial, the project should generate enough carbon-free electricity to power 120,000 homes.BP says its US wind portfolio has the potential to develop almost 100 projects with a total generating capacity around 15,000 MW. The projects are the result of several agreements and acquisitions the company made in the previous year.In July 2006, BP announced a strategic alliance with Clipper Windpower to supply up to 4,250 MW of wind turbines over the next five years. Later in 2the year, BP acquired two U.S. wind development companies -- Greenlight Energy Inc. and Orion Energy LLC.Shares of BP gained $1.02 to $62.61 in morning trading on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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