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TXU Boosts Wind Energy Portfolio by 29%

TXU Logo Looks like the new TXU is really moving in a green direction.  This is what I was looking for, so let's hope similar news follows in the future.  Today TXU Wholesale, a subsidiary of TXU Corp. (NYSE: TXU), announced the purchase of about 209 megawatts of wind power from Airtricity.  This will be Airtricity's third project in Texas and it will use 209 1.0-MW Mitsubishi 1000A turbines.  In total, the purchase now brings TXU's investment in wind to 914 MW (powered by 965 turbines).  The farm, known as Roscoe Wind Farm, is currently under construction 45 miles southwest of Abilene, Texas.  By my BOE calculations, this news means that the portion of wind in TXU's total energy portfolio (18,100 MW) is about 5.05%.  Five percent of TXU's energy is generated from wind.  It's not cheap, but this is the direction we need to go.  Nice work. 

Good Links:
+$300,000,000 Facility Will Provide Power to TXU [doc][Airtricity]
+TXU Adds to Wind Energy Portfolio with 209-MW Deal [TXU]


Here's some more information on the financial aspects of the deal from Dallas Business Journal:

Compounding its stake in renewable power, GE Energy Financial Services is investing in a 209-megawatt wind power project in West Texas.

The unit of General Electric Co. (NYSE: GE) is putting up half of the structured equity alongside the equity of the project's developer, Chicago-based Airtricity Inc. Construction began in March on the $300 million Roscoe Wind Farm going up in Mitchell, Nolan and Scurry counties. All three of Airtricity's wind projects to date have been in Texas. The company operates that unit of its business out of its Austin office.

The Roscoe project is the second one in West Texas that Airtricity and GE are collaborating on. The companies are also participating in the operational 125-megawatt Forest Creek Wind Farm 25 miles southeast of Big Spring.

Roscoe will annually produce power sufficient for 60,000 homes and will drastically curb greenhouse gas emissions compared with fossil fuel generation.

"With strong wind resources, West Texas is an attractive site for new wind farm development," says Kevin Walsh, managing director and leader of renewable energy at GE Energy Financial Services. He says as the company strives to reach its goal of $4 billion in renewable energy holdings by 2010 it will continue to seek quality energy projects to invest in.

Since its founding in 1997, Renewable power firm Airtricity has amassed 455 megawatts of wind projects in operation and another 1,400 megawatts planned to be operational by 2009. The company has 360 employees in Europe and North America. It's North American offices are in Chicago, Austin and Toronto. Via:

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