New Wind Farms Get $1 Billion Boost from BP, Sempra (BP, SRE, GE)
Units of two of the country’s largest energy companies, BP plc (NYSE: BP) and Sempra Energy (NYSE: SRE) have announced a joint investment of more than $1 billion in two new wind farms in Pennsylvania and Kansas. Both plants will…
Units of two of the country’s largest energy companies, BP plc (NYSE: BP) and Sempra Energy (NYSE: SRE) have announced a joint investment of more than $1 billion in two new wind farms in Pennsylvania and Kansas. Both plants will use turbines from General Electric Co. (NYSE: GE), and each will be the largest wind farm in its respective state.
The Kansas plant, Flat Ridge 2, will generate 419 megawatts, and has three power purchase agreements in place to buy the renewable power. During construction the project is expected to create about 500 jobs.
The Mehoopany plant in Pennsylvania will generate up to 141 megawatts and the plant has sold all its power to two utilities. The project is expected to employ about 250 workers during construction.
Both plants are scheduled for completion by the end of this year. The companies did not give an estimate of full-time permanent jobs created.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
