General Electric (NYSE:GE) announced today that it will be partnering with Enel Green Power to provide about $156 million in common equity for one of Minnesota's largest wind farms. As is no surprise, this wind farm will be using GE turbines. GE actually owns 51 percent of this 200 MW wind farm now under construction in southern Minnesota. When completed, it will help the state of Minnesota reach its 25 percent renewable energy goals by 2025. With this deal in place, GE's total wind portfolio is now just shy of 10 full gigawatts.
Looks like First Solar (NASDAQ:FSLR) may be considering manufacturing in India, according to a recent piece in The Hindu. During an earnings conference, First Solar CEO Jim Hughes said in regards to India, “Ultimately, if the kind of visible demand that we expect develops in that market, that is likely a market where we would look to put manufacturing in place.” We've discussed the rise of solar in India in the past, and continue to believe India could soon prove to be one of the most lucrative solar markets on the planet. You can read more about that here.
To date, the U.S. military has ponied up for 168 road-capable plug-in electric cars. But according to an Air Force spokeswoman, more are on the way. Yes, while partisan slaves and dim-witted naysayers continue to attack the development of electric cars – you know, those things that help us displace an enormous amount of foreign oil and help bolster national security, the military remains quite bullish on electric cars.
While the future may not be so bright for the wind energy production tax credit, wind power that is already installed in the United States continues to show its immense value. According to Xcel Energy, Colorado's largest utility, on April 15, nearly 57% of the electricity that was generated in the Centennial State came from wind power. Xcel has credited the record with new advances in technology, including an update of its weather forecasting ability and an upgrade of software the utility uses to control its wind farms and fossil fuel plants.