The new installation will be constructed by Southern California Edison (SCE)The new wind farm, one of the largest in the United States, is scheduled to be completed sometime in 2012 and will by then be one of the largest such installations in the world. It will be more than 7.5 times larger in production capacity than the biggest wind farm in Africa, a French-financed project in Ethiopia. With the completion of Caithness Shepherd’s Flat, Oregon will have joined California and Texas as leading producers of alternative energy in the U.S.
The impressive wind farm will span both Morrow and Gilliam counties, occupying an area with a 30 mile radius. Once all turbines are installed, it will be able to produce some two billion kWh of energy, which is a really impressive amount, considering the wind-generated electricity capacities that the state currently has. This amount will make up for 10 percent of the company's total renewable energy portfolio, according to officials within the firm.
SCE decided to invest in this project because its leaders thought that the offer showed tremendous potential in recovering the costs of the original investment. The build time is relatively short, at just 3 years, which means that the first giant turbines could start operating even before 2012. Also, given the electricity-generating potential of the North-Central Oregon area, it's safe to assume that the investment will be well worth it after a few years of operating the wind farm.
Over the past few years, wind energy, and alternative energy also, began to grow in popularity and, more importantly, became more attractive to investors who, since then, poured millions and millions of dollars into wind farms, solar-powered plants, geothermal installations and other, small-scale current-generating equipment.
Over the next few years, more and more renewable energy projects will be approved or will enter construction phases, according to market estimates. The stocks for solar energy, as an example, are among the few that grew over the last weeks, when the world market was in turmoil and everything plummeted. This could be a good sign for investors, showing them that their investment was worth it.