Airtricity Announces US Wind Power Projects

Airtricity, one of Europe and the UK’s largest renewable energy companies, announced initial investments in the U.S. of USD$270 million slated for wind farms in Texas, New York and the Pacific Northwest and total investments in excess of $1.5 billion by 2010 in the North American market.

Airtricity will use the initial investment to install turbines on a wind farm developed in conjunction with RGI, Inc. The wind farm, located in the Abilene area, will have an installed capacity of 125 MW and will generate sufficient power to supply over 75,000 homes. The turbines for this project will be supplied by the Siemens Wind Power company based in Florida. The other wind farms being constructed in 2006 will use wind turbines supplied by Gamesa. In announcing Airtricity’s expansion in the U.S. in a keynote address at Euromoney’s 2nd Renewable Energy Finance Forum in New York, Chief Executive Officer Eddie O’Connor said the investment comes at a time when there is limited wind energy capacity in the U.S. but growing recognition of the need to develop long-term renewable sources of energy. “Over the next five years, we anticipate that growing demand for wind energy will enable our business in North America to account for nearly 50 percent of overall revenues, which will help us to become the largest private, renewable energy developer in the country,” O’Connor said.” Through this investment, Airtricity has made a strong commitment to retail customers in North Texas, including Dallas, Lubbock, Amarillo and surrounding counties. Sales of power from this wind farm will begin in 2006. “One of the greatest potential economic and environmental crises facing society today is global warming. However, the leadership and people of Texas have signaled in many surveys that they want to deal with this issue.”

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