Duke Energy Acquires Tierra Wind Business

ENERGY TECH

by Staff Writers
Charlotte NC (SPX) Jun 01, 2007
Duke Energy announced that it has acquired the wind power development business of Tierra Energy, a leading wind power development company located in Austin, Texas, from Energy Investors Funds for an undisclosed amount. The purchase includes more than 1,000 megawatts of wind assets under development in the Western and Southwestern United States.

Three of the development projects - a total of approximately 240 megawatts - are located in Texas and Wyoming, and are anticipated to be in commercial operation by the end of next year, with additional facilities potentially in operation as early as 2009. The power produced will be sold through long-term contracts.

"As our nation's appetite for electricity continues to grow, renewable energy will play a larger role in meeting that demand," said Duke Energy Chairman, President and CEO, James E. Rogers. "This acquisition supports our strategy to increase our investment in renewable energy and national efforts to reduce carbon emissions."

The assets become part of Duke Energy Generation Services (DEGS), a Duke Energy subsidiary that focuses on investments in onsite energy, commercial and renewable energy assets across North America.

Six members of Tierra Energy's senior management team are joining DEGS, including David Marks, formerly Tierra Energy president. Marks becomes DEGS' senior vice president, business development - wind energy.

"We're very excited to be involved with this environmentally friendly technology and that David and his team are joining us," said DEGS President, Wouter van Kempen.

"We see wind power as a potential growth opportunity for DEGS, and we plan to spend approximately $400 million in capital expenditures through 2008 to complete the first three development projects. We would expect to begin seeing earnings from these assets in 2009."

Duke Energy currently has purchase agreements for wind generation in Indiana and recently installed solar panels at 10 Indiana schools. The company also recently issued a request for proposal for renewable energy to help meet growing demand in the Carolinas.

DEGS develops, owns and operates electric generation for large energy consumers, municipalities, utilities and industrial facilities. DEGS specializes in developing innovative and environmentally sound generation solutions using a variety of fuels, including natural gas, coal, waste coal and wood, as well as wind and other renewable energy.

Email This Article

ENERGY TECH

EON To Halve Carbon Emissions By 2030

Duesseldorf (AFP) Germany, May 31, 2007
E.ON, the biggest power supplier in Germany, plans to reduce its carbon emissions to half of their 1990 levels by 2030, chief executive Wulf Bernotat said on Thursday. "Our ambitious target is to reduce our CO2 (carbon dioxide) emissions to roughly 0.36 tonnes per megawatt-hour by 2030, 50 percent less than in 1990," Bernotat said.

ENERGY TECH EON To Halve Carbon Emissions By 2030 Spectacular Growth Of The Green Energy Market Bush Pushes New Climate Change Plan Putin Says No Link Between Energy And Foreign Policy	CIVIL NUCLEAR US Sees Technical Delay In India Nuclear Pact US Positive On Clinching India Nuclear Accord Britain To Sell Part Of British Energy Greenpeace Protest At Finnish Nuclear Plant
BLUE SKY AIRS Global Map Of Carbon Dioxide From Space Widespread Twilight Zone Detected Around Clouds Rand Says Further Study Warranted On Save The World Air Technology Noxious Lightning	WOOD PILE Uganda Shelves Plan To Convert Rainforest Indonesia's Crackdown On Illegal Logging Under Fire Brazil Demonstrating That Reducing Tropical Deforestation Is Key WinWin Global Warming Solution Global Scientists Urge Canada To Save Boreal Forest
FARM NEWS Top Chef Warns Of Environmental Impact Of Fine Dining Climate Change Threatens Wild Relatives Of Key Crops Journal Details How Global Warming Will Affect The World's Fisheries Spud Origin Controversy Solved	CAR TECH Power Auto Group Debuts Fuel Efficient E-Vehicle Program Hydrogen Breakthrough Could Open The Road To Carbon-Free Cars New Research Advances Energy Efficiency, Safety And Performance Of Public Transit Toyota To Launch 100-Percent Ethanol-Powered Cars In Brazil
AEROSPACE Australia Fears Jet Flight Guilt Could Hit Tourism Nondestructive Testing Keeps Bagram Aircraft Flying New FAA Oceanic Air Traffic System Designed By Lockheed Martin Fully Operational NASA Seeks New Research Proposals	NUCLEAR SPACE Could NASA Get To Pluto Faster? Space Expert Says Yes - By Thinking Nuclear NASA plans to send new robot to Jupiter Los Alamos Hopes To Lead New Era Of Nuclear Space Tranportion With Jovian Mission Boeing Selects Leader for Nuclear Space Systems Program

The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement