Pickens backs out of wind farm deal

Texas billionaire T. Boone Pickens’ company American Wind Alliance has sold 100 percent of its stake in the proposed New Era Wind Farm LLC in Goodhue County, Minn., according to The Minneapolis Star Tribune. Peter Mastic, who formerly led a wind development company that worked on the project, said he is the sole employee and owner of New Era Wind Farm.

The proposed $180 million, 50-turbine wind project has encountered opposition from citizens concerned about noise and threats to wildlife. Mastic told The Star Tribune he will proceed with the project even if the production tax credit for wind power expires on Dec. 31.

Xcel Energy (NYSE: XCL) is slated to buy electricity from New Era Wind Farm as part of a commitment under  state law to buy electricity from community-based producers.

Read more wind energy news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...