FPL Energy Announces Expanded Growth Plan for Wind Business
With growing support for clean and renewable wind energy and the need for new sources of power generation to meet increasing demand, FPL Energy, a subsidiary of FPL Group, and the US leader in wind energy development and operations, announced today an aggressive goal to add between 8,000 and 10,000 megawatts of new wind to its portfolio by the end of 2012.
To achieve its goal, FPL Energy plans to add at least 2,000 megawatts of new wind generation to its portfolio in the 2007/2008 timeframe and 1,500 to 2,000 megawatts per year from 2009 through 2012.
The foundation of FPL Energy's growth plan is a pipeline of wind projects representing more than 14,000 megawatts in various stages of development and more than one million acres of land under its control across the U.S. FPL Energy continues an active prospecting program designed to add significantly to its already robust pipeline. In addition to its development pipeline, FPL Energy, through its subsidiaries, currently has more than 1,000 megawatts of new wind projects under construction in Texas, Colorado, Iowa and North Dakota; all are expected to reach commercial operation by the end of this year.
"With demand for energy continuing to increase, we believe wind power can have a positive impact on diversifying our energy supply and improving our environment," said Mitch Davidson, president of FPL Energy
. "We need more economic, reliable and domestic sources of electricity to operate our homes and businesses and wind energy is an important and growing part of our energy supply. As the largest owner and operator of wind and solar power in the nation, the goal we announced today is part of our ongoing commitment to clean energy generation."
FPL Energy has a long and successful track record in wind energy development and operation. From 2000 through 2006, FPL Energy added more than 3,500 megawatts to its wind portfolio. No company in the world has added more wind capacity through new development than FPL Energy.
In 2006 FPL Energy installed about one-third of all of the new wind energy added in the U.S. In addition, FPL Energy's development activities in 2006 helped Texas supplant historic leader California as the top state in cumulative wind power capacity, according to the American Wind Energy Association (AWEA). The Horse Hollow and Red Canyon wind projects alone represent an investment by FPL Energy subsidiaries of more than $1 billion in Texas.
"Continuation of the tremendous growth we've seen in wind energy is not without its challenges," Davidson added. "Timely extension of the renewable energy production tax credit along with addressing ongoing transmission and interconnection challenges is vital to our ability to meet these goals and the long-term viability of the wind generation industry."
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