BP Wind Energy (NYSE:BP) today celebrated two important milestones that highlight the company’s growing portfolio of renewable energy projects in the U.S. and its commitment to being one of the nation’s top energy investors and suppliers.
A dedication ceremony was held to mark the full commercial operation of the Sherbino 2 Wind Farm in Pecos County, BP’s third wind facility in Texas.
The event also commemorated the installation of BP’s 1,000th wind turbine, which is part of the facility and underscores the rapid growth of the company’s wind business in recent years.
“The growth of the wind industry is a tremendous made-in-America story that has created thousands of manufacturing jobs and led to significant improvements in wind turbine technology and power generation.” said John Graham, president and CEO, BP Wind Energy. “The production tax credit (PTC) has created a new business model that has attracted billions in private investment and we urge Congress to allow the industry to finish the job by extending the PTC.”
BP’s wind business, which has been building about two projects each year since it launched in 2005, has invested more than $1 billion in Texas alone. BP’s fourth Texas wind farm, called Trinity Hills, located northwest of Dallas, began operation early this year.
“It has taken just 60 months for BP to go from zero wind turbines in the ground to celebrate number 1,000 that is spinning now at the Sherbino 2 Wind Farm,” Graham said.
The Sherbino 2 Wind Farm, which is owned and operated 100 percent by BP, will have a generation capacity of 150 megawatts, enough electricity to power 45,000 average American homes. The farm began operation late last year, though the facility was officially dedicated today.
BP made a commitment in 2005 to spend $8 billion over 10 years on alternative and low-carbon energy. Today, the company is ahead of that schedule, having invested approximately $7 billion with about $4 billion of that invested in the U.S.