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04/18/2008 08:39 AM

Oilman Discusses $10B Investment in Wind

SustainableBusiness.com News

High-profile Texas oilman T. Boone Pickens expects at least a 25% return on the $10 billion he's spending to build the world's largest wind farm, according to a report today by Reuters.

Through his company Mesa Power, Pickens has plans to produce 4,000 megawatts (MW) of electricity--equal to the power produced by two nuclear power plants. Next month Mesa power will begin buying the tracts of land for 2,700 wind turbines, the report said.

"When I go into these markets, I expect to make money on them," Pickens said. "I don't expect to lose."

Pickens believes by stretching wind turbines through the center of the continent from Saskatchewan to Texas, and solar plants across the American southwest, that North America can free up vast quantities of cleaner burning natural gas for fueling vehicles.

Read the full report.

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