Chapter 12 – Globalization, Innovation, and 21st Century Organizational Trend{0}
Oil baron’s wind farm project hits doldrums
Social Entrepreneurship: Going Green
I tired to find a decent article which talks about globalization but an article about green energy found me first. This article was published few months ago and talks about billionaire T. Boone Pickens’s plan of building the world’s largest wind farm.
Pickens is a billionaire who earned his treasure from the oil industry and trading. He was named the 117th richest person in US with a net worth of about $3 billion in 2007.
Pickens’s plan of building the 667 wind turbines named the Pampa Wind Project was put on hold due to tranmission issue and capital market issue. Pickens said that he will not forfeit the project and claim that he will definitely find a place to place his 667 wind turbines.
The wind farm project proposed to supply 4000 megawatts of electric energy and should supply electric energy for 1.3 million homes. The project will cost $12 billion and is now postponed to be complete by 2014.
Pickens had been advertising his wind farm plan by TV commercials and lobbying even since last summer. Unfortunately the credit market had been holding Pickens back from completing his plan. Pickens tried to get into energy supplying industry as oil price had been unstable recently and forecast to be unstable in near future.
United State became the world leading provider of wind energy in 2008. Wind farm is visioned to be the leading electric energy supplier in the future for US.
Wind farm is in many way more environmental friendly than many electric energy generator. Wind farm uses renewable energy, wind, to generate electric power and propose near no treat to the environment. With the existent of wind farm, more environmental unfriendly power generator can be replaced.
Oil boron’s wind farm project hits doldrums
CNN Technology, July 8, 2009
http://www.cnn.com/2009/TECH/07/08/pickens.wind.farm/index.html