Frankfort, Kentucky [RenewableEnergyAccess.com] Wind Energy Corp. will locate its manufacturing facility in Morgantown, Kentucky. The company will develop, manufacture and sell next-generation wind turbines to the middle wind market segment.
The project, announced by Kentucky Governor Ernie Fletcher and Economic Development Cabinet Secretary John Hindman, represents an investment of more than $6.1 million in the south central Kentucky region.
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Wind Energy for tax benefits up to $3,405,000 under the Kentucky Rural Economic Development Act, which provides incentives to attract and expand manufacturing employment in the state.
KEDFA also approved $595,000 for Wind Energy’s corporate headquarters in Elizabethtown. The grant was awarded from a High-Tech Investment Pool, which is administered by the Cabinet’s Department of Commercialization and Innovation.
Unlike traditional, propeller-driven turbines that require a minimum of 8-12 mph wind speed and an average of one acre of clear land for each turbine, the Wind Energy product will be designed to operate in as little as 4 mph of wind velocity without motor assist.
“We are working hard to bring an economically viable wind turbine to market, and Kentucky has been our greatest fan,” said Gregory Thomson, the company’s president and chief operating officer. The company expects to begin manufacturing by the end of the year.