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What Would A New OPEC Look Like?

What Would A New OPEC Look Like?

The global oil markets could…

Additional Wind Generators to Arise Alongside Lake Erie

Six additional giant wind generators are planned for a former steel mill polluted site alongside along Lake Erie.

The generators, situated on a “brownfield” toxic site, formerly occupied by a Bethlehem Steel facility, are expected to be in operation by early 2012.

The new wind turbines will be added to eight windmills that in 2007 began operating in Lackawanna, The Buffalo News reported.

Each new wind 410-foot tall turbine, similar to the ones already in place, will generate 2.5 megawatts per hour, producing sufficient electricity for up to 700 households.

The turbines are owned by the First Wind company, and the 440 million project is the country's first urban wind farm.

First Wind spokesman John Lamontagne said, "It's one of the projects we're most proud of. Since it went online in 2007, it has been successful."

In May First Wind, an independent U.S.-based wind energy company, announced that its subsidiary, First Wind Capital, LLC, had issued $200 million in senior secured notes due in 2018. First Wind CEO Paul Gaynor said, “This is an important milestone for our company as it is our debut in the capital markets. It will provide capital for future projects we hope will comprise more than 350 megawatts of clean energy. These projects will be in our core target markets of the Northeast, the West and Hawaii and we plan to bring those projects into commercial operation by the end of 2012. “We appreciate the commitment of our new financial investors, which will help First Wind deliver clean, renewable energy, as well as significant economic benefits in terms of construction jobs, local tax revenues and work for local businesses in the communities where we are located.”

By. Charles Kennedy, Deputy Editor OilPrice.com



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