The economic downturn has had a bit of a silver lining for Texas’ wind energy business.
Under the American Recovery and Reinvestment Act Texas wind projects have received nearly $400 million in funding meant to stimulate the economy and create green jobs. That’s 40 percent of the $1 billion given out so far.
| Wind turbines near Sterling City, Texas.(AP Photo/LM Otero, File).
The recipients include:
• Barton Chapel Wind Farm
• Bull Creek Wind LLC
• Pyron Wind Farm, LLC
• Penascal Wind Energy
Near Corpus Christi, TX
Oddly enough the massive power line projects designed to take West Texas’ surplus wind power to the large cities in Texas that can use it seem to be turning down the federal loan guarentees.
At a Public Utility Commission meeting last month developers indicated the strings that come attached to the $750 million in federal loan backing are too onerous for them.
“Cost increases arising from this Buy American [rule] could quickly overcome the savings created by the lower cost of capital,” Richard Roloff, vice president of finance at LS Power, told the commissioners.
Interested in getting a piece of the green energy pie yourself? The Environmental Defense Fund has maps showing where the green jobs are in just about every state, including Texas.